This week will be a big one for investors, policymakers, home loan customers and first-home buyers as the Reserve Bank of Australia (RBA) prepares to make its next decision on whether to lower interest rates again.

But the Sydney Morning Herald reports that while one eye will be focused on the RBA on Tuesday (February 3rd), many people are apprehensive about official data out on the same day which could show that the country has slipped into a recession.

Speaking to the paper, a panel of experts said that the RBA is likely to pull down interest rates to an even three per cent, an event that is likely to be met with some joy among those looking to compare home loans and get on the property ladder.

Those on a variable rate home loan will also see their average repayments fall, which may make a possible recession slightly easier to bear.

It may also prove an opportune time to compare home loans and lock yourself into a fixed rate deal after some experts warned that the RBA is running out of room to make further interest rate cuts.

Aussies are continuing to plough money into paying off existing credit card debts amid fears about job security, new stats from the Reserve Bank of Australia (RBA) show.

The amount of money being spent on credit cards is also on the wane, with $16 billion being put on credit in January, compared with $21 billion in December, the RBA found.

Overall, the number of credit card purchases fell 22 per cent.

Speaking to news.com.au, AMP Capital Investors chief economist Shane Oliver said the figures were a good indicator of how the average Aussie is feeling about finance right now.

“Essentially Australians are feeling nervous in the face of rising unemployment.

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