The Australian Herald-Sun’s RBA watcher, Terry McCrann, was right last month about the RBA holding rates. That doesn’t do much to repair his terrible track record this year but I’m a sucker for his incoherent ramblings.
A cut next week – rather than leaving a four-month gap from the last cut in October to the next meeting in February – is the ‘no regrets’ option.
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The RBA watcher at The Australian — David Uren — says today’s data on private capital expenditures will be critical.
The Reserve Bank’s decision next week will be guided by business investment figures to be released today showing whether resource investment plans are being trimmed following the fall in commodity prices and the extent of the weakness of investment across the rest of the economy.
