WEEKEND ECONOMIST: Rates wait

The conditions are in place for another rate cut but the minutes from the board's last meeting, and its eagerness to wait and see on the effect of previous cuts, suggest we'll have to sit tight for a while longer.

The Reserve Bank Board meets next week on Tuesday. We had expected the board to decide to cut rates by 25 basis points. However, the contents of the Minutes for the June Board Meeting make it clear that a cut in July is unlikely.

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