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From the RBA sockpuppet, Terry McCrann, today:
The Reserve Bank did not “seriously ponder” a “shock” Cup Day rate cut — as some have interpreted, or rather misinterpreted, the minutes of that meeting.
This is not just about getting ‘yesterday right’; it is even more important about not building in a misunderstanding of what the RBA is likely to do at its last meeting for the year in two weeks time.
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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.