THE DISTILLERY: Rates seers

Jotters peer into the future on interest rates, while one explains the costs of RBA interference with the Australian dollar.

The Australian dollar remains overvalued, but the Reserve Bank is unlikely to cut interest rates at its meeting today. Of course it would take more than a 25 basis point cut to bring the currency down to something close to fair value and one commentator explains just how much fire power the central bank would need. Meanwhile, another business writer looks at the NSW government’s debt reduction efforts via asset sales.

But first The Australian Financial Review’s Christopher Joye explains just how costly it would be for the Reserve Bank to interfere in the currency markets to put downward pressure on the Australian dollar.

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