Interest Rate Cuts Becoming More Likely in 2015
Westpac expects interest rate to come down in 2015. This is a bipolar change from what they had previously anticipated for 2015, reports Simon Frazer for the website abc.net.au. Experts feel that GDP is the main reason why rates can only fall from here on and that too in a very short time from now.
Westpac is not in the habit of changing its predictions but over the last half year or so, a lot of things have converged; none being more important than decline in terms of trade, weakening consumer sentiment, inflationary pressure (very benign though) and contraction in growth of states (except NSW).
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