September 5, 2019 / 4:34 AM / 17 days ago

ANZ predicts Australia cash rate at 0.25% by May 2020

SYDNEY, Sept 5 (Reuters) - Economists at ANZ Banking Group said on Thursday they expect Australia’s central bank to sharply cut its cash rate to as low as 0.25% by May 2020, from their previous prediction of just one more easing to 0.75%.

The other three major Australian banks - Westpac, National Australia Bank and Commonwealth Bank - see the cash rate at 0.5-0.75% by end-2020.

The Reserve Bank of Australia (RBA) has chopped its benchmark rate twice this year to a record low of 1% and has said it will move again if needed.

Reporting by Swati Pandey; Editing by Sam Holmes

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