Alan Oster, the chief economist at NAB, questioned the Reserve Bank’s decision to cut the cash rate while simultaneously dropping the easing bias and highlighting positive signs across the economy.
…”If you want to boost confidence, I’m not sure that’s the way to do it. [And] if they were trying to lower the currency, then that was an own-goal.”
The AFR has a bunch of quotes today suggesting that the RBA is going to reinstate its easing bias today: