Westpac Chief Economist – Bill Evans has advised the Bank to anticipate Interest Rates will fall by 1% p.a. (100bps) within the next 12 months.
Westpac announced “We now expect a sequence of rate cuts beginning with 0.25% p.a. (25bps) in December 2011 and through 2012 totalling 1% p.a. (100bps) prior to a period of steady rates in 2013”. Read more