Interest rates to hit 45-year low

Interest rates are tipped to reach a 45-year low today, when the Reserve Bank board meets in Sydney.

It's expected rates will be slashed by a full percentage point to 3.25 per cent – a level not seen since 1964.

TD Securities Senior Strategist Joshua Williamson says an aggressive stance is needed to revive the economy.

“We’re looking for 100 basis points,” Mr Williamson said.

“We see a rate cut as inevitable, and indeed look for the Reserve Bank to maintain that aggressive pace of monetary easing that they initiated over the last quarter of last year.”

credited to livenews.com.au