There is a strong possibility that the Reserve Bank of Australia will cut interest rates on Tuesday as there are signs of the economy down under has seen a slowdown.
The RBA cut interest rates for the first time in 18 months in February and I think they will definitely cut rates either this month or next at the latest which is likely to weaken the Australian Dollar against Sterling.
This could lead to excellent opportunities to buy Australian Dollars during next week so it may be worth taking advantage of these exchange rates.
The risk for the RBA is that if they do cut interest rates this could lead to over inflated property prices in Sydney and Melbourne but for me I think the RBA is more focused on supporting the overall economy.
Indeed, the language used in last month’s minutes have suggested that a rate cut could happen as they said ‘further easing over the period ahead may be appropriate.’
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]