We think the financial markets are right to pare back their expectations of how far interest rates will rise next year. Admittedly, we expect that after leaving rates at 1.5% at the meeting on Tuesday 7th November, the forecasts the Reserve Bank of Australia publishes in the Statement on Monetary Policy on Friday 10th will paint a rosy picture of the economy. But we don’t think the outlook is as good, which why we are not expecting the RBA to raise interest rates at all next year.
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