Homebuyers can expect further interest rate relief today, as the Reserve Bank meets in Sydney.
The RBA Board is expected to lower the official cash rate by as much as one per cent.
It will be the fourth consecutive cut in as many months, potentially taking the cash rate to 4.25 per cent from its current rate at 5.25 per cent.
The early Christmas present for home-buyers will also be a gift to businesses, struggling to manage costs through the global financial crisis.
NAB Chief Economist Alan Oster has told LIVENEWS.com.au homebuyers can expect rate relief well into the new year.
“We think 75 basis points, but to be brutally honest, I wouldn’t be surprised if they did a hundred,” he said.
“So, really, another big cut and - more importantly - you’ll probably get about the same in February next year.”
ANZ Chief Economist Saul Eslake says the confirmed recession in the US will weigh heavily in today's decision.
"This time around we've seen the New York market fall 5 per cent overnight," he told LIVENEWS.com.au.
"And coming after yesterday's news that prices fell in November, that could prompt the Reserve Bank to do more than expected."