Experts convinced RBA will cut interest rates despite bank shrugging off similar peer pressure in July

Latest consumer figures support third rate cut for 2025, analysts say, but ultimate decision is up to the board

• Get our breaking news email, free app or daily news podcast

Australians are spending more but buying less than in 2022, underlining the intense cost-of-living pressures on households ahead of Tuesday’s Reserve Bank of Australia interest rate decision.

Economists and financial markets are once again convinced that the RBA board will drop the official cash rate from 3.85% to 3.6%, after the central bank stared down a similarly strong consensus and held rates at its previous meeting six weeks ago.