Tuesday, October 07, 2008

Unbackable: Today's rate cut

Both Sportsbook and Centrebet have stopped taking bets. When they were, there was no possible combination of bets which would have allowed you to make money by merely predicting that rates will be cut.

A cut of 0.50 percentage points was by far the favourite, the first time since rates have been cut by that much since 2001.

The banks are likely to pass on only half of it.

The Reserve Bank's decision will be announced here at 2.30pm Australian Eastern Daylight time. (2.00pm in SA, 1.00pm in the NT, 1.30pm in Qld, and 11.30am in WA)