Will Australia's central bank keep interest rates steady, increase or cut them?
Most economists agree the Reserve Bank of Australia will keep interest rates on hold when it hands down its decision on the official cash rate on Tuesday afternoon. The interest rate the central bank charges lenders to borrow money is 4.35 per cent, as it has been all year. But concerns have been raised about whether falls in Australian and overseas stock markets will influence the bank's decision.
chief economist Paul Bloxham expects the RBA will keep rates on hold for the rest of the year, even with other advanced economies cutting rates or signalling such intentions. The RBA started hiking rates later than other central banks, lifted less than its peers and was dealing with weaker productivity growth, the economist said.
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