Fear looming a rate cut will not come into effect before next federal election

New reports suggest the chance of a rate cut for homeowners before the next federal election is unlikely. Reserve Bank Governor Michele Bullock says the economy is running at a level that cannot be sustained without inflation. NAB has updated its forecast arguing the Central Bank will not cut rates until May. The other three major banks are still tipping a February rate cut, but there is uncertainty over the impact of US President-elect Donald Trump's economic plans.