Online bookmaker sportsbet.com.au is reporting significant backing from punters for the RBA to cut the cash rate whenever they do make a move – but Tuesday’s decision is tipped to remain stagnant.
Virtually 80% of all money wagered is backing the rate to be reduced, currently at odds of $1.35, with a raise priced at $3.00.
Tuesday’s decision is a short $1.02 to remain unchanged while we can expect just the one change to the rate this year at $2.30 – May the tip from Sportsbet for a move at $5.00.
“The rate may be at a record low but our punters certainly think there is room for even further cuts this year, but by all accounts that won’t be happening with February’s decision,’’ said sportsbet.com.au’s Will Byrne.
Markets courtesy of sportsbet.com.au
RBA February Decision
$21 Decrease by 0.26% or more
$11 Decrease by 0.01% to 0.25%
$1.02 No Change
$16 Increase by 0.01% to 0.25%
$26 Increase by 0.26% or more
Direction of next rate move
$1.35 Rate will go down
$3.00 Rate will go up
Number of changes to the rate made in 2016
$7.00 Four or more
Month of next RBA movement
$4.00 2017 or later