But he now thinks it is "likely to peak at a lower rate than earlier expected".
After the 1990s recession, it took a decade for the jobless rate to fall back to its pre-downturn levels. In the past fortnight, there had been speculation that the RBA might have decided to slash rates today as part of a unified "Team Australia" move, adding to the stimulus measures the Morrison Government is set to announce tonight.But the view that prevailed was that the RBA would prefer to give the Budget "centre stage", holding off on any rates cuts until next month ., Guy Debelle, on September 22.
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