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A potential cut in interest rates by the Central Bank expected next months is spooking the market for Aussie Dollar, losing over a cent against the US dollar yesterday. The concensus is that the Central Bank will cut rates by a quarter of one percent to 2.5%.
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The IMF has given its prognosis of the United States recovery but labelled it as remaining “tepid,” blaming external factors, tax increases, spending cuts and even the weather as having an impact on their recovery.
However a strongly performing housing market along with an increasingly impressive equity market have given the IMF reason to believe that the risks to the economy are diminishing however they did believe that “deficit reduction in 2013 is excessively rapid” and that further planned cuts could slow down growth in the medium term.
