RBA becomes a lonely rate-cut candidate on Aussie growth doubts

Sydney

A MONTH can be a long time in economics.

Since the Reserve Bank of Australia's (RBA) last policy decision on May 2, market bets on an interest-rate cut by the end of this year have doubled. While that chance is still only about 20 per cent, swaps traders see Australia as one of just two developed economies where cuts are possible in the coming year after data during May pointed to anaemic growth in the first quarter.