Time to cut along the rates bias

Earlier views that past rate cuts were enough should be revised. The Reserve Bank must cut at least 25 bps more if it’s to meet inflation targets.

Since the last meeting of the Reserve Bank board five weeks ago, there has been a range of news on the economy that suggests monetary policy is too tight. This means a 25 basis point interest rate cut tomorrow is a minimum requirement if the clear signs of disinflationary economic sluggishness are to be turned around.

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