The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, October 29, 2012

David Uren agrees with me--November less than likely

Some 'excitable' folks have been describing a November rate cut as a "certainty". Anyone who understood the inflation data would know otherwise. This is David Uren in The Australian today, backing what I have been saying for a week:

Although the market interpreted the negative tone of Glenn Stevens' statement after the October meeting as suggesting there would be further rate cuts, he gave no specific guidance on future rate decisions. The negative tone was really an explanation for the decision the board had just taken. If the bank holds to a view of softening global and domestic growth, it will cut rates further, but the odds are a bit longer than even money for Cup Day.