The Distillery: Rates friction

Jotters diverge on the Reserve Bank’s minutes, with one eyeing a medium-term rate hike and others spying possible further cuts.

The interest rate ruminations of the Reserve Bank of Australia, through the release of its monthly board meeting minutes, drew plenty of attention from the commentariat. According to one scribe, the next rate move is definitely down, but another isn’t so sure. If the market wants to chase record highs, it may need to do so without any further assistance from the central bank.

The Australian Financial Review’s markets columnist, Philip Baker, takes the latter viewpoint, looking to traders for guidance.


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