Capex triggers renewed talk of rate cuts

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Find below Westpac’s and ANZ’s takes on today’s capex report. Both fall in behind my assessment of the release earlier today and both are calling for a December rate cut. The same is apparent at the AFR.

As I said earlier, the report was one for the doves.

Quick Reaction – CAPEX Q3.pdf

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er20121129BullCAPEXQ3.pdf

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.