The Reserve Bank of Australia (RBA) kept the official interest rate on hold last February by 4.25%. All 13 economists surveyed by AAP believed that there will be no Interest Rate Cut this March and cash rate would remain steady.
According to RBC Economist Michael Turner said further cuts would be influenced more by domestic factors than events offshore.
CommSec chief Economist Craig James said the Central Bank, its rates decision, would have to consider increased costs for the major banks.
To motivate RBA to cut the rate, the labour market will need to ease, inflation will need to reduce and hopefully most of all the Major Banks would follow through with the full cut.