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FED:Home prices dip another speed bump for slowing economy

Contentious tax changes that have dented housing market activity could slow Australia's economy and deter the Reserve Bank from hiking interest rates again.

Fresh data is likely to show gross domestic product was still growing at a fairly rapid clip at the start of the year, but a slowdown is on the way.

Wednesday's national accounts release is likely to be the last time annual growth has a two in front of it for some time, which could convince the central bank to hold off on more rate rises.

Economists at National Australia Bank expect the Australian Bureau of Statistics to show the economy grew by 0.3 in the March quarter, which would put the annual growth rate at 2.4 per cent.

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