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  • Not everyone is convinced the RBA will hike rates today

    From marketindex.com.au

    The vast majority of economists expect the Reserve Bank (RBA) to hike for the first time in eleven years at today’s meeting. But while most see a 15 basis-point move to 0.25%, as do money markets, some zealots expect a first move of a whopping 40 basis points magnitude. The Australian Retirement Trust’s chief economist Brian Parker expects the central bank to lift rates by 25 basis points at every meeting this year. However, given that the central bank has no reputation for taking ballsy moves, John Hawkins a senior lecturer at the University of Canberra suspects the RBA’s waiting game may continue for a while ... (full story)

Of course. There will always be attempts to encourage traders to make the wrong move.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Been a while (if ever) the RBA has increased rates during an election campaign, if they do increase. RBA will take the easy way out and go with 0.15 increase, under normal circumstances could have been 0.25 (MOO). Next month prob same, then will come 0.25 hike. A lot of interest in this ann't, you'd actually think 230PM today was the Melbourne Cup., in any case Labor quick to jump in and bag out Morrison, quote the Shadow Treasurer "Morrison quick to talk about what he has done for our (Aus) economy, but never comes in when something negative happens". Completely out of touch, and typical Labor grasping at straws reply, anticipated. Fact is, if our economy was not so strong there would be no rate hike at all. Bury your heads in shame, Labor Party ambulance chasers.
"Don't Shoot Me I'm Only the Piano Player"
I may be wrong but based on their CB comments in the last year, if I wanted to open a position now (before the news), I would short AUD.
Best to wait until thunderstorm settle down and trade on reaction. Ignore all these noises (market siren). Save your money, don't donate to brokers.
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Today,Scotty from the office is DISTANCING his government with RBA calling it a separate entity. Election hike do happen…my two cents ….Hike is here…
Ok I was wrong
Good on the RBA, 0.25. No fear, and a positive outcome. AUD rallied against USD, not surprisingly, up to 0.7160, will prob fall back again when everything calms down. I'm short if falls back below 0.7090, short term trades for now only this one, mebbe a good time for the AUD/USD to find a base before future rises.

On a side note, GOLD Cash 1858, also good news. : )
"Don't Shoot Me I'm Only the Piano Player"
If rates will increase is good good for AU.
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