It might not happen later today, but it should happen soon and maybe twice in the next couple of months.
I am of course talking about the RBA cutting the cash rate.
Mark Twain famously said “Lies, damned lies, and statistics”. And this was quoted in the context of the use of statistics to bolster weak arguments.
But for mine, the chart below isn’t a weak argument. It shows that interest rates are heading down.
However, don’t expect much of it to be passed onto us punters.
Nor will it really have much impact, economically, except maybe to help keep some housing markets more buoyant than they really should be.
But when you only have one or two tools in your tool box you have to use what you have got to try and get the job done.