Rate hikes unlikely to happen anytime soon: Westpac

The Reserve Bank is set to meet in March to deliberate the current Interest Rates. Economists are convinced that the rates will be on hold on their upcoming meeting, and forecasts have already surfaced on the possibility of an interest rate hike by 2015.

Westpac Bank Chief Economist Bill Evans disagrees. He believes that before any hikes occur, a rate cut is more likely to happen considering the current economic situation. Evans is convinced that the economy is not yet strong enough for any rate increase.

RP Data’s Cameron Kusher share the same sentiment, declaring a possible rate hike to happen either at the second half or later in the year.

Read more about this on the Property Observer website.