26 of 27 economists surveyed by Bloomberg expect a rate cut today (see my preview here: Reserve Bank of Australia meets today – announcement due at 0430GMT. OIS pricing in 106% chance of cut
If we get a rate cut, as expected, all attention will turn immediately to the accompanying statement to get a handle on whether the RBA still maintains an easing bias for this cycle (I suspect they will).
Oh, and if we don’t get a rate cut, all hell will break loose. A mass grave will be dug for the shorts.
