Aussie interest rate cut likely

The market is expecting the Australian Reserve Bank to cut interest rates today.

The Official Cash Rate across the Tasman was reduced from 3.5% to 3.25% in October.

ASB chief economist Nick Tuffley says a rates cut in Australia is not likely to influence our Reserve Bank's monetary policy statement on Thursday.

"From the Reserve Bank's point of view, their decision won't be very heavily influenced at all by an actual cut from the Reserve Bank of Australia.

"They'd be a bit more focused on the outlook for Australian growth, and how that might affect our exports."

Our 2.5% official cash rate has been unchanged since March last year.

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