Multiple rate cuts forecast by Westpac

According to Westpac chief Economists Bill Evans, “there will be a sequence of rate cuts beginning with 25 basis points in December 2011 and through 2012 totalling 100 basis points prior to a period of steady rates in 2013. Reserve Bank will cut interest rate four times in 2012, predicted by Westpac. Based by RP Data survey, home prices have dropped 2.7% in the first five months of 2011 and I believe that if the interest rate will fall, the property market will become active again next year. It shows that when the economy is strong and interest rates are rising, the confidence in the property market is usually highest. Investors and agents have already planned, improving their skills and strategies to make the property market will active again. The bottom line is what does really will happen in 2012?