Fitch predicts RBA to still cut rates in November

Fitch Ratings’ head of sovereign rating APAC Jeremy Zook says he still expects the RBA to cut interest rates this year. “We still expect them to cut in November, we see sort of that tightening that has happened in the past still feeding through to households,” Mr Zook said. “Households are still seeing interest rate payments rising and that’s eating into their ability to go out and very much tightening domestic demand, we think that will be sufficient to bring down inflation. “We think the RBA will use that and cut rates in November.”