Good Evans - Australia’s Interest Rates betting market: 0.50 % cut narrow fav for RBA December decision

13th November 2008, by Neil Evans

Australians can expect either a 0.50 per cent or even 0.75 per cent official Interest Rate cut in the Reserve Bank’s next announcement, according to the opening December market from leading financial bookmaker Centrebet! Media chief Neil Evans said the 0.26 % up to and including 0.50 % reduction has opened a $2.25 favourite on Centrebet, just ahead of the 0.51

Australians can expect either a 0.50 per cent or even 0.75 per cent official Interest Rate cut in the Reserve Bank’s next announcement, according to the opening December market from leading financial bookmaker Centrebet!

Media chief Neil Evans said the 0.26 % up to and including 0.50 % reduction has opened a $2.25 favourite on Centrebet, just ahead of the 0.51 % to 0.75 % cut, quoted at $2.40! Punters can get $11.00 for official rates to stay the same.

“We expect punters to back both, although our feeling is the initial financial target now of a 0.75 per cent cut will slowly filter back to a 0.50 per cent announcement,” Evans said. “Yet, some punters might consider the full 1.0 per cent reduction very good value at $7.00, considering the continued economic downturn – and the brutal counter-effect the NSW slash-and-burn mini-budget is seemingly having on professional confidence!”

“Forecasts continue to tell us the official cash rate is headed for a generational low, but before that, the RBA faces a delicate balancing act with the major banks which have so far baulked at passing on the full reductions to the nation’s home owners. That is why I believe the RBA won’t be entirely savage!”

Centrebet is the first bookmaker in Australasia to field markets on the official RBA announcements on Interest Rates, and even has future plans to bet on world oil prices and currency moves!

Last month, Centrebet’s original $2.30 favourite of a 0.75 per cent cut in November drifted out to start at $7.00, with punters heavily backing the 0.50 per cent cut into a $1.50 favourite! “As we know, the 0.75 % announcement came in for us on Melbourne Cup day, so we got a bit back after punters had filled their boots in the months of September and October.

“I have no doubt, this will be another fascinating betting book, and more and more punters are putting their money where their mouth is on the crucial world of Interest rates!”

VIEW THE RBA INTEREST RATES MARKET UNDER ‘SPECIAL EVENTS’ AT CENTREBET

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last update : 27th November 2008 05:32