Bill Evans on the cut

Tuesday, 5 May 2015

From Westpac’s Bill Evans:

As we had forecast the Reserve Bank Board decided to lower the cash rate by 25bps to 2%.

For Westpac this brings to a close an interesting six months in forecasting. When we changed our view on December 4, 2014 we were the only institution in the Bloomberg survey who forecast that the cash rate would be at 2% by May 2015.

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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.