SYDNEY - Australia’s central bank will likely hold its cash rate at a record low of 0.75% next week but cut at least once more later this year, a Reuters poll showed, amid signs the country’s economy was still stuck in a slow lane.
As many as 23 of 32, or nearly 72%, forecast rates at 0.5% before June with three predicting deeper cuts to 0.25%. Australia’s A$1.95 trillion economy is in its 29th year of recession-free expansion, the longest boom among developed countries. But economic risks have intensified over the past year, with growth slowing, inflation lukewarm and unemployment ticking higher.
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