RBA Expected to Cut Rates Anew

Analysts expect another round of rate cuts when the Reserve Bank of Australia (RBA) conducts its final monthly meeting for the year tomorrow, December 4.

Experts estimate a drop of 25 points this month, which could bring down the current rate of 3.25 per cent to just three per cent. After tomorrow's meeting, the RBA will meet again in February next year.

Last month, the RBA maintained the rates after lowering it by 25 points in October.

The Australian dollar's value has already dropped in anticipation of the expected cut. From Thursday's 104.67 US cents, it dipped to 104.33 US cents last Friday. Other factors such as the continuing weak performance of the country's mining, manufacturing, and services industries are seen to suggest a further cut in rates.

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Published on December 12-rd, 2012 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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