HSBC lowers 2014 forecasts; rates heading down

HSBC has lowered its 2014 forecasts from 3.1% growth to 2.8% growth and now expects another interest rate cut to a record low of 2.50%.

The market has been pricing in a cut all along and perhaps two.

Futures markets now deem a cut in July as more likely that not at 51%.

Source: ASX

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