With economic growth sub-trend, the labour market still weak and inflation benign, I can still envisage a further interest rate cut in this cycle.
And if it wasn’t for roaring house prices in Sydney and Melbourne I think we’d probably get one in early 2014.
The cash rate futures markets are more bullish than I am on the economy and think on balance perhaps not.
So, when might we see a hike in rates according to futures markets?
Answer: Some time in 2015.
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