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From the AFR:
An influential group of former Reserve Bank of Australia board members, academics and market economists has urged the central bank to shun calls for an interest rate cut on Tuesday.
A nine-member board acting as a “shadow” RBA said on Monday that the best option would be for the bank to keep the benchmark cash rate at 3.5 per cent.
Various reasons but it boils down to wait for the inflation number and not enough evidence of weakness yet for a cut.
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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.
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