RBA could cut interest rates following slow growth

It’s been revealed the Reserve Bank could be forced to cut interest rates for the third time this year due to low productivity growth and reduced investment. New data shows the economy grew by 0.2 per cent in the first quarter of this year as businesses cut costs. Severe weather such as Cyclone Alfred and floods in North Queensland earlier this year has had some effect on the data. Economists say the national outlook is uncertain after warnings the global trade war could force businesses and consumers to cut back on spending.