Philip Moffitt, head of Asia-Pacific fixed income at Goldman Sachs Asset Management, says the Reserve Bank of Australia is likely to cut interest rates further (comments from a March 17 interview):
- Says the RBA will probably cut one more time
- But says it could do more if the Australian dollar rises, less if it falls
"It seems to me that the RBA has just accepted that a strong housing price move is an acceptable consequence, it's the lesser of two evils basically."
"Last year we were fighting the housing market, worried about whether it was a boom or a bubble. Now it's like: it's in Sydney, it's a problem, but we just have to live with it, we've got to make more houses."
