Yesterday, 9th May 2016, the Cash Rate futures (June 2016 Contract), that economists use as an indicator to speculate the chance of cash rate rises/cuts by the RBA, were trading at 98.315.
This would suggest that there is a 34% chance at this stage of another rate cut, bringing the official cash rate down to 1.5% down from a record low of 1.75% which was down from a record low of 2%.
Some articles are suggesting that economists are not ruling out a race to 0%.
The next announcement is 7th June.
Hmmm? …
Thomas Merriman.
Thomas Merriman 