THE board of the Reserve Bank of Australia is not expected to cut the cash rate when it meets on Tuesday.
Eight out of 12 economists surveyed by AAP say the RBA will not cut the cash rate in the foreseeable future, and all of the those surveyed predict there won't be a Melbourne Cup Day reduction.
HSBC chief economist Paul Bloxham says improved business and consumer confidence, as well as strong rises in house prices, means the RBA has finished its rate cutting cycle.
"The RBA is unlikely to deliver any more rate cuts for fear of over inflating the housing market," he said.
"Housing price growth has risen and timely auction market data suggest these trends have continued in recent weekends, despite a pickup in supply on the market.
The RBA has slashed the cash rate by two per cent to a record low of 2.5 per cent in a series of reductions over the past two years.
Most economists believe the RBA will start increase its interest rate in late 2014 or early 2015.
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