The Australian Financial Review (AFR) carried a fresh report on Monday, citing that the markets are pricing in a 50% chance of an RBA rate cut in December 2019 while the odds of a rate cut in February stands at 58%.
The rate cut expectations are on account of the following reasons:
“Plunge in consumer confidence by the most in more than three years because of softening expectations about the economy and household finances.
Forecasts of a deeper downturn in residential property prices.
Elevated concerns around household debt.”
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