Talk Money: July 23, 2015
The Reserve Bank is expected to cut the Official Cash Rate (OCR) at 9am this morning.
But by how much?
The general consensus is that the bank will cut the OCR by a quarter of a percent to three percent.
The economy is slowing, diary prices have fallen and both business and consumer confidence is down.
If there is a cut the banks are likely to trim their mortgage rates. But term deposits will come down too and any cut to the OCR will fuel the housing market.
Watch the video.