WEEKEND ECONOMIST: Rate cuts revised

An uneven housing recovery has not changed growth or inflation forecasts, but expectations have been revised on the timing of the next rate cut.

We have pushed back our timing for the next rate cut by the Reserve Bank to February next year. Our previous forecast was for one cut of 25 basis points in November and a second of 25 basis points in February. Our revised call is for a 25 basis points cut in February to be followed by a further cut of 25bps in May. Essentially our forecasts for the Australian and world economies have not changed.

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