Interest rate cut bets rising despite housing bubble fears

Bets are rising that the Reserve Bank is poised to cut Australia's official interest rate the third time this year to a new record low of 0.75 percent. 

The rate cut expectations come amid concerns about the diminishing effect of falling rates and concern about a new housing bubble. 

AMP Capital Investors chief economist Shane Oliver tells ABC's Peter Ryan the RBA board is also concerned about a rising Australian dollar.