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| Written by Rates Analyst, on 18-10-2007 00:53 There's definitely a move in that direction... It's a tough call without the inflation figures though. The Governors would do serious (verging on irreparable) harm to the RBA's standing if they hiked rates after a low CPI during an election campaign. They'd lose all their credibility, which is a very valuable commoditiy to a Central Bank (see how hard it is for the RBNZ, becuase they lack the credibility the RBA has.) I personally think the chance of a hike in Nov is rising, but it's not a done deal until after the CPI. I have not seen the JP Morgan report, but it seems to be essentially a gamble on the CPI data. |
