Rates to go on hold

Hey Greg Hearn the Financial Physicist it’s the 3rd of February my first video blog for the year down here at Bar Beach as you can see it is going off over my shoulder way too big for me anyway I just want to touch base and go okay interest rate where are we at the meeting I’ve got a dog who’s licking my toes now that’s funny um the meeting for The Reserve Bank is next Tuesday they will now put it on hold as of last Tuesday I was a 50/50 call as to whether they would hold rates because there was a lot of people overseas and what appeared to be a lot of spending at Christmas but it seems from the numbers that have come out and a bit of confirmation from the big banks that that’s not going to be the case in fact the big banks were saying uh through the week earlier in the week um that uh there would be no more rate rises which I didn’t quite agree with at that time but they know more than me uh and the um rate reductions would start October November CommBank came out yesterday and said the Reserve Bank went too far which is exactly what I said it probably went 2 rate rises too far and there’ll be definitely no rate rise on Tuesday we’re done with rate rises and we will have three rate rate reductions this year so that’ll be interesting to see and I thought we should have we shouldn’t have gone the last two and we should have been cutting from about June July they’re now saying September October November or October November December so it’ll be interesting to see anyway that’s it for me peace out