72% likelihood priced in already.
We're just a soft inflation print away from a record low interest rate of 2.50%.
It seems that the RBA is fairly relaxed that the housing market won't overheat, in spite of investor activity being close to all-time highs.
Interest may well be heading lower still.
Currency traders have made their minds up - the Aussie dollar is heading below 90 cents, which is welcome news for many of us.
US stocks are up 3% for the week and the Aussie stock market also anticipates a leg-up, recording 4 straight days of gains.
Interestingly, no major forecasting houses see unemployment rising much above 6.5%. Such a key figure for the health of the Aussie economy.
Much will hang on whether the mining capital expenditure figures plateau or collapse in the coming year or two. Surveys imply there is much to come in the pipeline, but actual figures look to be weakening.
One matter which has seen little mention is that the iron ore price has rebounded up above US$125/tonne. Few expect the price to remain so high, but it's great news for Australia if it can hold up.
Source: ASX
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