SCOREBOARD: Rates realpolitik

The vast majority of economists expect a rate cut this week, though little economic data supports one.

On my view of the world and domestic economy, the RBA (announcement this Tuesday at 1430 AEDT) wouldn’t be cutting rates. But about the only thing I do know is that the RBA board does not share my view of the world – or the domestic economy. They are much more pessimistic and have cut twice already. Me, I wouldn’t have done it, especially when the Australian economy is accelerating to such an extent that third-quarter private demand was the strongest in about in four years.

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