How many more interest rate cuts is the RBA likely to make?

The Reserve Bank has finally delivered the rate cut many highly indebted mortgage borrowers have been crying out for. The saying on financial markets is that rate cuts are like cockroaches: there is rarely just one. But this time could be different. At the same time as the RBA, quickly followed by the major banks, took the edge off home loan repayments, the central bank’s board cautioned borrowers not to count on too much more rate relief. “Upside risks remain,” warned the board in its post-meeting statement. ” While today’s policy decision recognises the welcome progress on inflation, the board…