If we did not have the Aussies, the RBA, or Governor Glenn Stevens, this would have been another bland and boring market to be talking about. Policy makers down-under certainly know how to surprise it seems, as very few analysts had predicted any movement by the Central Bank in their latest rate decision. The Governor has managed to keep markets on their toes by cutting overnight interest rates to a record low of +2.75% earlier this morning. The ‘street’ in general was expecting no change while the futures market saw less than a 50% chance of -25bps cut. Rhetoric and copy from the RBA was not too different from any ... (full story)