MARKETS SPECTATOR: Rates fence

The market is pricing in another 58 basis points worth of rate cuts this year and while no one's certain when they'll happen, most traders expect strong support for stocks to continue.

Don’t be surprised if the Reserve Bank cuts rates today, many traders and analysts say.

The market is pricing in 58 basis points of cuts this year, according to UBS. Its view is that the Reserve Bank will not cut the benchmark cash rate today.

Others say there is a good chance.

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