Largest Australian fund manager Oliver: RBA to cut rates to 1% in H2 2019

Bloomberg is out with the key comments by the largest Australian fund manager AMP Chief Economist Shane Oliver on the RBA”s interest rate outlook.

Key Points:

Sydney and Melbourne prices will drop a further 10% in 2019

Peak-to-trough fall 20%

A "perfect storm" smacks housing

Reserve Bank of Australia will cut interest rates in the second half of 2019, from 1.5% now to 1% by end 2019.