I have a sure thing to put your money on with Melbourne Cup this week.
There have been a number of years previously where the RBA have moved the official cash rate on their board meeting held on the Tuesday of the Melbourne Cup (in fact six of the last 12 years has seen a rate move by the RBA in November). This year however, you can put your money on “no change” as a sure thing! (sorry no horse tips I’m afraid).
The latest below-target inflation and falling house prices means that the RBA is in no hurry to raise interest rates, despite the 5% unemployment rate. In fact, I don’t expect a rate rise until November 2019 at the earliest with financial markets pricing in the first rate hike not until 2020.