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AAP
AAP
Business
Jacob Shteyman

Dutton prays for rate cut as RBA enters conclave

There are high hopes Australia's mortgage belt will get a rate cut after the RBA meeting ends. (Darren England/AAP PHOTOS)

Opposition Leader Peter Dutton is hoping for a reduction in interest rates as the Reserve Bank board cloisters themselves away to contemplate a much-anticipated cut.

But even though money markets and a majority of economists are predicting a first cut in more than four years when the policy smoke billows from RBA's Martin Place conclave on Tuesday, borrowers are being warned not to expect major relief this year.

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