June 04, 2012 at 00:49 AM EDT
Australia Entering Aggressive Rate Cutting Cycle: Pros
The Reserve Bank of Australia (RBA) is widely expected to lower interest rates by 25 basis points to 3.50 percent at its next meeting Tuesday, however, slowing housing and retail sectors could push the central bank into a more aggressive rate cutting cycle with the market expecting up to 165 basis points in cuts over the year.
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