The Reserve Bank of Australia is preparing to announce new interest rates on Tuesday, with economists predicting a potential rate cut.
The rate cut is expected to address rising pressure from Australians seeking relief, particularly those with mortgages.
The RBA’s first meeting of the year is set for Monday and Tuesday, during which the decision on interest rates will be made.
A survey of 37 economists revealed that 73% expect the interest rates to remain unchanged.
Noel Whittaker, associate professor at Queensland University of Technology, argued that a rate cut may not be justified, given the ongoing economic hardships caused by inflation, construction costs, and a weak job market.
