Reported about 2 months ago
Australia's central bank is facing increasing pressure to cut interest rates as government measures to alleviate the cost of living significantly lower consumer prices, with upcoming inflation data expected to show the headline rate falling back into the RBA's target range. Despite the RBA's firm stance against immediate rate cuts, market expectations suggest a 42% chance of a reduction in September, rising to 84% for the November meeting, as public calls for relief from rising mortgage costs gather momentum.
Source: YAHOO