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Cup day cut on cards as RBA holds firm

Experts and economists say a Melbourne Cup day rate cut is firming as a real possibility after the Reserve Bank of Australia held fire on the official cash rate, which remains at its record-low 0.25 per cent.

RBA sign
Economists say a rate cut may be likely, but are questioning its potential economic impact. Photo: Shutterstock

Experts and economists say a Melbourne Cup day rate cut is firming as a real possibility after the Reserve Bank of Australia held fire on the official cash rate, which remains at its record-low 0.25 per cent.

RBA Governor Philip Lowe said the central bank’s board of directors made the decision to maintain current policy settings because they had been “working as expected”.

"Over the past six months, the Australian economy has been supported by …

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