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Australia's economy is at recessionary levels as tax relief misses the mark - but 'no economist' expects another interest rate cut in November
The economy is weak but rates probably aren’t going anywhere for now. That’s the consensus of economists with the Reserve Bank of Australia (RBA) widely expected to keep rates at 0.75% at its monthly meeting on Tuesday. “No economists surveyed by Bloomberg [are] looking for a rate cut,” AMP Capital chief economist Shane Oliver tweeted. “[Market probability] on a cut is just 6% for Nov and 26% for Dec which seems a bit too low.” No economists surveyed by Bloomberg looking for a rate cut next week now. Mkt prob on a cut is just 6% for Nov and 26% for Dec …which seems a bit too low ... (full story)