RBA Heading to 1% With Chance of Unconventional Policy, NAB Says

  • Oster changes rate forecast; sees two 25pbs cuts next year
  • Business confidence and conditions take a hit in July

Australia’s central bank will cut interest rates to 1 percent within a year to combat weak inflation and rising unemployment and could then turn to unconventional monetary policy, according to Alan Oster, the chief economist at National Australia Bank Ltd.

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