Published: May 24, 2019
Westpac’s Bill Evans expects central bank’s cash rate to eventually reach the untested levels of 0.75%
A weakening economy will force the Reserve Bank of Australia to cut interest rates three times this year to the uncharted territory of 0.75%, according to a leading economist.
Westpac’s widely respected senior economist, Bill Evans, said on Friday he now believed the central bank – faced with anaemic GDP growth, falling house prices and rising unemployment – would go further than previously expected as it cut rates from the long-standing record low of 1.5%.
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