Punters with online bookmaker sportsbet.com.au have reacted to yesterday’s quarterly ABS inflation paper, backing the RBA to make an interest rate cut on Melbourne Cup day.
A ‘no change’ decision by the RBA started the day as the $1.40 favourite but following the release of the paper thousands of dollars in bets were placed on a decrease of between 0.01% and 0.25%, resulting in no change drifting out to $2.05.
A decrease of 0.25% or under is now the favourite outcome for this Tuesday, firming from $2.75 into $1.70.
“Following the release of the inflation paper on Wednesday, 75% of all bets on the November RBA decision were for a rate cut,” said sportsbet.com.au’s Ben Hawes.
Market courtesy of sportsbet.com.au: Join Sportsbet.com.au Here. Free 300% Bonus Bet. Deposit $50 Bet With $200
RBA November Decision
$11 Decrease by 0.26% or more (steady)
$1.70 Decrease by 0.01% to 0.25% (in from $2.75)
$2.05 No Change (out from $1.40)
$21 Increase by 0.01% to 0.25% (steady)
$51 Increase by 0.26% or more (steady)