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May rate cut predicted by NAB

By Kevin Kelly

Borrowers throughout the country may not have seen the last of cuts to the official cash rate, as one major bank predicts another could be just a matter of months away.

NAB released its Monthly Business Survey, in which it forecast that the Reserve Bank of Australia (RBA) will be in search of more ways to get the economy back onto its feet.

As a result, the bank forecasts that another rate cut will take place in May. It has brought forward its initial prediction of August after this latest reduction took place a month earlier than expected.

There's a 30 per cent possibility that this still won't be the end of it, as NAB believes there could be further monetary easing later in the year if the economy doesn't improve.

Buyers of real estate in Bunbury are currently benefiting from the all-time low cash rate of 2.25 per cent, following a 0.25 per cent reduction on 4 February.

If you're still yet to make your move onto the property ladder then now could be the time to start thinking about it. With home loan rates working in your favour, you could find buying is cheaper than renting.

Of course, you'll need the expertise of an experienced real estate agent to make sure you're on the right track to finding a home that ticks all the right boxes.

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