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AAP
AAP
Business
Jacob Shteyman

Big bank shifts rate cut tip as retail sales disappoint

Retail spending figures improved in May as colder weather enticed shoppers to buy more clothes. (Joe Castro/AAP PHOTOS)

The last holdout of the big four banks has brought forward its prediction for the next interest rate cut after retail sales data again came in softer than expected.

ANZ chief economist Adam Boyton expects the Reserve Bank of Australia to cut the cash rate by 25 basis points at its meeting on Tuesday, bringing the bank in line with economists at CBA, NAB and Westpac.

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