Ellerston: RBA gunna cut

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Some more heavy hitters join the MB outlook today, via the AFR:

Ellerston Capital’s head of global macro, Brett Gillespie, believes there is a solid chance that the Reserve Bank of Australia will cut interest rates sooner than the market expects, and before May’s federal election, to counter the property correction.

“My prediction is that the Reserve Bank will cut rates,” Mr Gillespie said at the Crestone Wealth Management Investment Forum held in Sydney on Wednesday. “I think it’s worth taking a bet on that.”

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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.