Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

In Favour of Rate Relief; Home Loan Consumers Expect to See More RBA Action and Lower Interest Rates by End of Year

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

In Favour of Rate Relief; Home Loan Consumers Expect to See More RBA Action and Lower Interest Rates by End of Year

Article excerpt

MOST home loan customers expect the Reserve Bank of Australia (RBA) to lower official interest rates again before the end of the year, a national survey has found.

The Loan Market poll which asked a[approximately]Do you think the RBA will lower interest rates again in 2012?' found 64% of respondents believed there would be another rate cut.

Loan Market corporate spokesman Paul Smith said 46% of respondents thought rates will drop by 25 basis points, 15% expect rates to fall 50 basis points while three per cent predicted a cut of more than one percentage point.

Mr Smith said 36% of the 865 online poll respondents said there will be no more reduction in the current official rate of 3.5% by the RBA before the end of 2012.

aAlthough many economic forecasters are tipping the RBA to stay on the sidelines, the consumer sentiment is clearly in favour of further rate relief,a Mr Smith said.

He said the 75 basis points reduction in the cash rate over May and June had been beneficial but a cloud remained over the housing and retail sectors. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.