Business

$20 billion wiped off markets

Three economists, from AMP Capital, Credit Suisse and Deutsche Bank predict a 50 basis point cut tomorrow.
Three economists, from AMP Capital, Credit Suisse and Deutsche Bank predict a 50 basis point cut tomorrow. Kieran Salsone

THE ASX200 has dived below 4000, wiping another $20 billion off the value of the market after US stocks had their worst day of the year on Friday. The dollar is trading well below 97 US cents, while the local bond market continues its rally.

As markets slump and global economic data turns sour, economists have been busy changing their predictions for tomorrow's RBA rates decision.

On Friday a small majority of economists polled by Bloomberg was still saying the RBA would stay on hold. Today 14 of 27 are now forecasting a 25 basis point cut, while just 10 say there will be no change. Three economists, from AMP Capital, Credit Suisse and Deutsche Bank predict a 50 basis point cut tomorrow.

HSBC Australia chief economist Paul Bloxham is the latest among those tipping a rate cut tomorrow, switching away from an earlier forecast of no change:

Read more at Brisbanetimes.com.au

Topics:  asx credit suisse rba stock market



Look My Way into ArtExpress

Ruby Sullivan of McAuley Catholic College has had her major HSC artwork accepted into the annual ArtExpress exhibition.

McAuley student's HSC artwork selected for exhibition

'That's not a brown!': Rare snake found lurking

Snakes have an inoffensive nature and are reluctance to bite

Spotify Summer tour kicks back in the Clarence Valley

David Harrison, Thom Moore and Beatrice McBride pose in the back of their truck for #spotifysummer

Head down to Minnie Water and Wooli to meet the crew from Spotify.

Local Partners

Dakota's world beating spectacular performance

Dancer helps break world record at School Spectacular performance


Kernaghan's a 'boy from the bush' with a timeless quality

Country music singer Lee Kernaghan.

Lee Kernaghan is celebrating the 25th year of his breakthrough song.

Ready to rumble: Boxing makes long-awaited return to Grafton

DETERMINED: Grafton Amateur Boxing Club members Zac Cotten (Cruiserweight), James Morrison (Jnr Featherweight), Eddie Debono (Super Heavyweight), Rhys Walters (Light Heavyweight), Joseph Pigg (Jnr Welterweight), Jamie Mansfield (Cruiserweight) are prearing for upcoming fight night in Grafton.

Five North Coast title belts up for grabs

Cyclist's 24 hours of pain for mental health

International endurance mountain-bike rider Morgan Pilley is used to pushing through the elements, but this weekend he'll push on to raise money for local mental health services in a charity ride at Junction Hill.

Ride For Youth to raise money for local youth mental health services

EXCLUSIVE: Meet Robert Irwin, wildlife photographer

SNAPPER: Apart from wildlife, photography is Robert Irwin's great passion.

Steve's boy has a passion for photography

Louis Tomlinson's tribute to late mother

Louis Tomlinson's new single is a tribute to his late mother.

Justin Timberlake stuns students with secret class

Justin Timberlake stunned high school students in Sydney

Carrie Fisher says Ford will be bugged by affair confession

Carrie Fisher is sure Harrison Ford is annoyed at her

Dakota Fanning rekindles romance with childhood sweetheart

Dakota Fanning rekindles romance with ex

Jennifer Lawrence apologises to the people of Hawaii

Jennifer Lawrence sorry for 'offensive' story

Five South Grafton houses that won't break the bank

Check out these South Grafton houses for sale

'Crucial' farm land eyed by defence department

Lawson Geddes moving the Brangus cattle to higher ground - which is the land the Defence Department is interested taking for the Shoalwater Bay expansion.

"You can't have one without the other.”

Former Shark Show for sale for $1.3 million

Vic Hislop at the old Shark Show.

TALK about a jaws-dropping real estate opportunity.

There's a whole lot of luxury in this home

The Endeavour Foundation's latest prize home in Mountain Creek.

WHEN it comes to desirable homes, it's hard to go past a prize home.

Give a little more this Christmas

TIME TO GIVE: Lee Johns, Courtney Smith and Daniel Kelly of Ray White Yamba promote their Little Ray Of Giving Christmas gift appeal.

Call out for presents, big or small

Ready to SELL your property?

Post Your Ad Here!