Fed: Homeowners awaiting rate decision
04 Nov 2008 2:29 AMFed: Homeowners awaiting rate decision
CANBERRA, Nov 4 AAP - Homeowners are today awaiting confirmation of an expected interest rate cut from the Reserve Bank of Australia.
Most economists are predicting the central bank will cut the official cash rate by half a percentage point, from six per cent to 5.5 per cent.
The bank is fighting against the global financial crisis which has dramatically slowed growth and pushed some major economies into recession.
Prime Minister Kevin Rudd has repeatedly warned Australia is not immune from the crisis which is now impacting on employment, consumer confidence and the manufacturing sector.
The bank's announcement will be made at 2.30pm (AEDT).
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