KBB Morning Snapshot

April 30, 2012, 9:19 am Kochie's Business Builders Yahoo!7

2 Rate Cuts Likely ~ Swan Says Surplus, Economists Say Deficit ~ Capital City Rent Too Expensive For Low-Income Earners ~ Voters Call For Early Election

KBB Morning Snapshot

2 Rate Cuts Likely

Economists are saying there's no doubt that the RBA's May 1st board meeting will produce a rate cut, on the back of weak inflation data. Many also said that another cut could be expected in June.

The last time we saw a rate cut was in December 2011 by a quarter of a percent.

Swan Says Surplus, Economists Say Deficit

Wayne Swan has announced he's expecting to post a $1.5 Billion budget surplus, but some economists are predicting the figure will be more like $8 Billion deficit.

Finance think-tank Macroeconomics calculated that unless further spending is cut or taxes raised, the Government will not succeed in achieving its much desired budget surplus.

Capital City Rent Too Expensive For Low-Income Earners

Anglicare's rental affordability snapshot has today has concluded that the major cities of Australia are too expensive for low-income earners.

No capital cities passed the test which looks at how affordable the rental market is for households on minimum wage, who are being priced out.

Voters Call For Early Election

A poll has found that voters want to see independent MPs back an early election in a no-confidence motion.

The poll concludes that just 3 in 10 voters would support Labor, whose primary vote has fallen to just 30 per cent. Meanwhile support for Abbott's Liberal party has risen to 49 per cent.