A growing band of top economists expect the Reserve Bank to take a razor to interest rates on Tuesday, amid further signs the economy is deteriorating.

All 17 economists surveyed by AAP expect the RBA to deliver at least one more rate cut in 2015, taking the cash rate to a new record low of two per cent.

Eleven of those economists expect that cut will happen on Tuesday, following on from February’s 25 basis point cut to 2.25 per cent.

• Credit card firms face fee class action
• Share market hits seven-year high
• Four lessons from reporting season

Commonwealth Bank, ANZ, Westpac and AMP Capital are among those forecasting a March cut, with the general consensus being the RBA tends to deliver cuts in pairs.

“Usually when they cut rates, they don’t just do one out of the blue and stop. It’s normally two,” Commonwealth Bank senior economist Michael Workman said.

The RBA is not short of reasons to cut.

Unemployment has hit a 12-year high of 6.4 per cent, business investment expectations have reached shockingly weak levels and cheap petrol is expected to push inflation below the RBA’s two-to-three per cent target band.

On top of that, the Australian dollar has been edging higher, touching 79 US cents last week.

– AAP