The Reserve Bank really has no choice. It must lift its official cash rate (today); and it will...
Now a rate rise will come absent only some form of global financial meltdown before Tuesday. And the warring politicians in the US still failing to agree to lift their debt ceiling would NOT of itself constitute such an event.
Terry tells me he's the man to watch on monetary policy and I hear he has picked 18 of the last 2 moves in official interest rates.
Well done Terry. I'm sure today will be no exception. Read about the RBA's decision here.