RBA tipped to cut interest rates next week
Deloitte Access Economics Lead Partner Pradeep Philip has weighed in on the Reserve Bank of Australia’s upcoming interest rate decision, predicting a likely rate cut next week.
“For the Australian economy to sustainably turn the corner and for us to reverse this decline in productivity, we must have business investment,” Mr Philip told Sky News Australia.
“Alongside the fact that inflation has steadily been coming down, and as you know, there are storm clouds on the global economy.
“We think that at its meeting on Monday and Tuesday, the Reserve Bank Monetary Policy Committee will look at these factors and reduce rates on Tuesday.”
