| From businessspectator.com.au: Today everyone will be on the edge of their seats wondering what the Reserve Bank will do on interest rates. Strangely, we will look back on the first Monday and Tuesday of August 2008 and think the Reserve Bank decision –which ever way it goes – was not the main game. Rates are going to come down whether it be this month, the next or later in the year.
What makes August 3 and 4 significant on the downside is what happened overnight in the commodities market. What was significant on the upside was the emergence of “smart” money to buy key assets. And that weakness in commodities has really cracked our share market this morning and multiplied the effects of our domestic slow down and the overseas morass...... Full Article: Source |