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The RBA has cut interest rates consistently in its last two sessions, but most brokers believe it will not go for a hat-trick.  

A new Loan Market survey about what the RBA will do at its July sitting next week has found nearly 80% believe it will keep rates at the current level of 3.5%.

Another 19% are expecting a 25bps cut, and only 2% tipped a 50bp cut.

No one forecast a cut of one per cent or higher.

Corporate spokesperson Paul Smith said the two interest rate cuts have yet to have a substantial impact on the housing and retail sectors.

But because other economic indicators (such as inflation and unemployment) are within targeted ranges, he said, the RBA is likely to leave rates unchanged.

"Consumer sentiment remains murky and difficult to project due to the European debt crisis and direction of the Australian economy. Many consumers will likely hold back spending until some resolutions appear both internationally and domestically."

Smith also suggested the impact of the carbon tax from July 1 may be weighing on consumers.

Still, if it does lower rates next week it will be the first time the RBA has applied three consecutive rate cuts since the height of the GFC in November, 2008.

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