Weekend Economist: Lower to go

The RBA still expects below-trend growth despite this week's cut. Expect it to move again at the next opportunity.

The Reserve Bank Board decided to lower the cash rate by 25 basis points to 2.25 per cent on February 3. This has been Westpac’s forecast since December 4, when it became clear that demand conditions in the Australian economy had deteriorated more sharply than we expect the bank had anticipated. The Governor’s post meeting statement confirmed that assessment, as he referred to growth as being below trend but more importantly “domestic demand growth overall quite weak”.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles