Loading ...On Friday the big four banks in Oz (which are smaller than one of your medium sized banks) were all champing at the bit for a rate cut in Feb. Cast iron, dyed in the wool certainty. Then last night rates shot up .16% on our 10yr bond and the currency dropped half a US cent.
See if any of them have the guts to admit they were wrong on Monday.
I still find it hilarious that anybody still thinks that CBs have any control over rates. A cunning central banker (a good central banker is, of course, an oxymoron) is able to follow market rates from in front, giving the impression that they are controlling the numbers. Jay has lost that one. Rates started rising after his first cut last year and never looked back.