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Home loan Interest rates to fall

The local interbank cash futures market is assigning a 65 per cent probability to a cash rate cut next Tuesday. And if not next week, then on Melbourne Cup day, and again in December, which would take the cash rate target to its GFC trough of 3% pa.

The RBA wouldn't be looking beyond one more just yet, but the case for at least one cut this year, and sooner rather than later is strong.

If the iron ore price can hold back above $100 a tonne, the RBA might well sit on a 3.25% pa cash rate