RBA foghorn: Only one cut locked in

Thursday 30 May 2019

Via Terry Mccrann, RBA foghorn, today:

The absolutely basic thing to understand is that next week’s cut is the only cut the RBA has locked in.

…Yes, it might broadly think it probably will deliver a second cut. Yes, it can analytically feel that it might end up delivering even more cuts.

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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.