Big rate cut tipped today
02 Dec 2008 2:57 AM
Official interest rates are expected to be slashed by another 75 basis points tomorrow.
It comes after inflation fell by point-six per cent in November .. the biggest monthly drop since August 2002.
12 economists are predicting the cash interest rate to drop from 5.25 per cent to 4.5 per cent .. for the first time since June 2002.
JPMorgan economist HELEN KEVANS says the RBA's expected to act aggressively because of global deflation .. renewed instability in the banking system .. and plunging confidence.
AAP RTV saj/klm/ka/tm
Official interest rates are expected to be slashed by another 75 basis points today.
It comes after inflation fell by point-six per cent in November .. the biggest monthly drop since August 2002.
Twelve economists are predicting the cash interest rate will drop from 5.25 per cent to 4.5 per cent .. for the first time since June 2002.
JPMorgan economist HELEN KEVANS says the the Reserve Bank's expected to act aggressively because of global deflation .. renewed instability in the banking system .. and plunging confidence.
AAP RTV saj/klm/ka/tm/psm/
