AAP General News (Australia)
04-01-2009
Fed:RBA now predicting recession, ready to cut rates again
The Reserve Bank says it's ready to cut the cash rate again if needed .. with the economy
set to suffer its first recession since the early 1990s.
RBA deputy governor RIC BATTELLINO's told a conference in Brisbane yesterday GDP's
likely to fall this year .. despite government spending measures and previous rate cuts.
That's in contrast to the RBA's prediction last month for an annual GDP growth of 0.5
per cent by the end of the year.
AAP RTV cb/kms/wz/tm
KEYWORD: ECONOMY (CANBERRA)
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
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