RBA sockpuppet: No cut coming

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Via RBA sockpuppet Terry McCrann today:

Westpac’s chief economist Bill Evans has joined NAB’s Alan Oster in predicting a rate cut from the Reserve Bank at its next meeting Tuesday week. I beg to disagree.

There is no good reason for the RBA to make such an – essentially symbolic or ‘tidying up’ – cut; and even less so especially on this particular Tuesday, the day of Treasurer Josh Frydenberg’s delayed budget.

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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.