THE DISTILLERY: Rate cut reasoning

Jotters play catch-up after the Reserve Bank's unexpected rate cut, while others unpack Stephen Conroy's underwhelming digital spectrum sale.

The Reserve Bank's rate cut yesterday caught the commentariat almost uniformly by surprise. Perhaps less shockingly, we today find most scribes on the back foot.

Wondering why the Reserve Bank would cut when the economy hasn't suddenly weakened, Fairfax's Michael Pasco thinks the reasoning might lay in what the central bank didn't say.


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