From the SMH blog:
“Local markets reacted to the shock crash of the Malaysia Airlines jet by pricing in a gloomier outlook for the world economy and thus for Australia, extending pricing for an RBA cut by Christmas from 50 per cent to 60 per cent,” Westpac senior currency strategist Sean Callow says.
…“It is unlikely that investors will view the MH17 disaster as a turning point for the global economy so sentiment is likely to recover in coming days.”
