0.25% rate cut on Cup day – you can bet on it

The Reserve Bank of Australia (RBA) interest rate form guide over the past five years has shown that it has moved to adjust the official cash rate 18 times since November 2006. Interestingly, over the past five years, there has been an interest rate adjustment on every Melbourne Cup day.

The Board noted that financial conditions have been easing somewhat, with interest rates for some housing and business loans declining slightly due to increased competition and the fall in some funding costs in financial markets. The exchange rate has also declined from the very high level of a few months go, while credit growth remains low and asset prices have declined.  My bet is interest rates to be cut by 0.25%

 



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