Tuesday, 6 October 2009

A little late interest rate action

Clearly I was not alone in reading the tea leaves yesterday as indicating that perhaps there might be an interest rate rise this afternoon. The Crikey Indicator has moved considerably overnight towards the Reserve Bank opting for a 0.25 percentage point increase although no change is still slightly the favourite way.

Rather smugly I have locked in my profit and backed the “no rise” to accompany the modest investment I wrote of yesterday on the 0.25 option.
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