Reuters is reporting that the interbank futures market is pricing in a 65% chance of a 25 bps rate cut in November. I personally have my doubts as to whether the RBA will move just before the ‘deadline’ for major EZ debt initiatives, which France and Germany gave as the 4th of November. If EZ progress has been made before Novermebr 1st, then I agree that RBA will probably cut, but if no progress has been made then I cannot see them cutting in an uncertain global environment.