At 2.30 on Melbourne Cup day (just before the big race) the November RBA cash rate decision is always handed down.
We thought you might appreciate some “late mail” from a few organisations that are “in the know” when it comes to this decision.
The first place we looked was the Sportsbet betting agency.
“Stay the Same” was their most likely outcome with odds of 1.001 to 1!!!
The second area we looked at was the major banks.
The one to watch is Westpac as they have been the most accurate predictors over the last couple of years.
Our third and final information source is the ASX futures market.
These “punters” believe there is less than a 5% chance of a rate cut tomorrow. Interestingly, it appears that this market is predicting a 0.25% rise at the end of 2014.
Good luck if you are having a punt on the big race.
Let’s hope the RBA board gives us a pre Christmas bonus.
Michael Daniels, B.Com
Smartline Personal Mortgage Advisers
State Manager NSW & ACT
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.