Sep 8, 2008

Further Interest Rate Cut Likely on Thursday

We hope James Weir in correct

The Reserve Bank is expected to cut interest rates to 7.75 percent on Thursday, heading for about 7 percent early next year and close to 6 percent late next year, to help boost a sliding economy.
The economy is in recession, with nine months of slowdown expected, according to some economists. A weak and slow recovery is expected later this year.