Just cuts
It's been a long time coming, but the capitulation is now complete.
Bloomberg's latest survey of economists showed that all concerned see interest rates falling at least to 1 per cent over the year ahead.
Notably, Westpac now sees three cuts this year, with further risks to the downside beyond that.
Bill Evans is usually ahead of the pack too.
Funding cost pressures are nowhere to be seen, so this should largely be passed on to borrowers.
Slow news day, you may have gathered, especially after the week we've had.
