Mr Evans, who in 2011 correctly predicted the RBA’s deep rate-cutting cycle, believes two further rate cuts are likely in August and November this year, taking the official cash rate to a new record low of 1 per cent.
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GDP slowdown will trigger job losses and RBA rate cuts that won’t be passed on, analysts warn
The Reserve Bank will be forced to further downgrade its economic growth forecasts as rising unemployment and an "income recession" for households take hold, according to Westpac chief economist Bill Evans.
