Pressure Growing For Interest Rate Cuts

The economy has taken another hit as the Australian dollar dips below US83¢, mounting pressure on the Reserve Bank to consider dropping the interest rates below 2.5%.

Economists have been pushing for monetary easing after GDP figures showed a soft economy as income growth has grown by a snail’s pace. The economy has expanded by a measly 0.3% for the third quarter – below the standard of 0.7%, taking the annual growth rate to a disappointing 2.7%.

Read more about this on the Zee News website.