MARKETS SPECTATOR: Oliver wants some more

The chief of strategy and economics at AMP Capital Investors, Shane Oliver, is predicting a Reserve Bank interest rate cut today.

Shane Oliver is not an iconoclast. He just thinks the Australian economy is too weak and the local currency too strong for the Reserve Bank of Australia to do anything but cut its benchmark cash rate to a new record low of 2.5 per cent today, from 2.75 per cent.

But the genial Oliver, head of investment strategy and chief economist at AMP Capital Investors, is just one of two economists out of the 26 surveyed by Bloomberg News who predict such a move. The other is at Macquarie Group, says Oliver.

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