Surely waiting another month, especially a month like October with it’s dangerous history for stock markets, would not make much difference. Or wait until the New Year when the recovery is entrenched by 12 months and then hike by 50bps or even 75bps. Yes the Australian economy has done remarkably well but it is still a relatively small economy and is at the mercy of what happens elsewhere more so than most. This is not a time for such a small economy to be trying to take the lead- sit back and consolidate and don’t rock a very steady but fragile boat.