Local economists have predicted that the Reserve Bank of Australia (RBA) is likely to keep the official cash rate on hold this week (Tuesday) following their last Board meeting this year and that the chances of a rate cut in the coming year are slim as the economy strengthens.
The most recent survey by the Australian Associated Press (AAP) revealed that all of the top 14 economists agree the RBA will not cut the cash rate at its December Board meeting, while just eight of those surveyed expect a rate cut in 2014.
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