AUD traders ICYMI - some disagreement on the October RBA rate cut forecast
Notable Australian RBA watcher Terry McCrann in the local press yesterday said there is no good reason for the RBA to make such an – essentially symbolic or ‘tidying up’ – cut.
McCrann in response to Westpac now tipping a cut at the October 6 meeting:
NAB are tipping October or November:
McCrann says further, noting the RBA meeting day is the same day as the Federal Budget announcement:
- Now, while there is no rule against a budget day rate change, the RBA would still nevertheless need a good reason to change. None of the possible 'good reasons' apply right now.
You can read the full piece here if you haven't already (may be gated).
RBA dep gov Debelle kicked off this latest round of rate cut talk with his speech on Tuesday: