The RBA is meeting today, and it is the first meeting of the new regime, but most economists expect the central bank to hold the cash rate at 4.1%

After the last meeting in February and the decision to cut rates, attention immediately turned to this meeting given that it was going to be held during an election campaign. The bank doesn’t like to make changes in election campaigns, given it fears it would be seen as ‘political’ but actually, the data shows that historically, the bank usually cuts twice in a row. So not doing so now, given further falls in both trend and underlying inflation, is also ‘political’ – because it’s making considerations to not be political. Which is just as political.

But I’m just screaming into the abyss with that train of thought.