<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Mortgage holders can look forward to the first of multiple interest rate cuts starting next week when the Reserve Bank of Australia holds its meeting, according to new research.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A resounding nine in 10 experts from the Finder survey released today believe RBA Governor Michelle Bullock will next Tuesday announce a 25-basis-point cut to the current 4.1 per cent cash rate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It's unlikely to be the last, with three in four of the 41 economists surveyed forecasting two or more cuts to the cash rate over the next 12 months.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/finance/unemployment-april-jobless-rate-steady-4-1-per-cent/14ef20ab-6cdf-4ad7-b251-9e4f4f9a5fe1" rel="" target="_blank" title="Unemployment rate steady days before RBA interest rates meeting despite spike in new jobs"><strong><span>Unemployment rate steady days before RBA interest rates meeting despite spike in new jobs</span></strong></a><strong></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They could come in July and August, according to 56 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Their cheery outlook is backed by the inflation dropping to the RBA's target range of between 2 per cent and 3 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Experts forecasting cuts also highlighted weak growth in the Australian economy and struggling consumer spending amid the global uncertainty sparked by US tariffs. </span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/finder-survey-most-experts-predict-rba-to-cut-interest-rates-this-month/c14dbcb9-c9fc-4e00-bb70-9280e80b1294" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They were further buoyed yesterday when data showed the unemployment rates holding steady. Figures released by the Australian Bureau of Statistics showed the jobless rate remained at 4.1 per in April, in line with economists' forecasts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In February, the RBA made the first official rate cut in almost five years, and Finder head of research, Graham Cooke, believes more are on the way.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Our experts are predicting several more cuts later this year, and we could be looking at a cash rate of close to 3 per cent by Christmas," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"With any rate cut, if you can continue making the same payment each month, you will knock more off the principal and pay less interest over the long run."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Among the experts in the survey backing the RBA to announce a cut next week was David Robertson from Bendigo Bank.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He's in the majority expecting a 0.25 per cent reduction, but would like to see more.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I expect the RBA to cut rates by another 25 basis points on May 20, with some risk of a larger cut (35 basis points would be ideal) but in the absence of a sudden sharper downturn in global conditions a 50 basis points cut appears unlikely."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But a handful in the survey were more cautious, believing the RBA will keep rates on hold.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They included Malcolm Wood, of Ord Minnett, who pointed to a tight labour market driving higher wages growth.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"With no productivity growth, this puts unit labour costs above the RBA's inflation target."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Despite Labor's thumping election victory, the experts were skeptical about the Albanese government's pledge to build 1.2 million new homes by 2029.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>One in five think that even if the target is reached, it won't improve housing affordability. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank" title=""><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>:</span></em></strong><span> </span><em><strong><span>Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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