Original source
ANZ has drastically cut its interest rate forecasts for next year, citing a sharp weakening in the mining sector, higher unemployment and the strong dollar as the rationale behind a drop of 100 basis points.
ANZ had forecast the Reserve Bank of Australia’s official cash rate to stay on hold at 3 per cent for all of 2013, but is now predicting a 25 basis point cut in each quarter, ending 2013 at 2 per cent. Among major banking institutions, ANZ now has the lowest forecast for interest rates, along with Macquarie Bank.
Read more: http://www.smh.com.au/business/the-economy/anz-slashes-rba-cash-rate-forecast-20121217-2bit1.html#ixzz2FJWSYKLd
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