“Turnbull effect” kills rate cut chances

As I expected, this week the RBA left rates on hold. Despite a lift in variable mortgage rates by the major banks, a firmer $A, and a lower than expected CPI result, the most important development over the past month has been the tentative signs of improved business confidence – owing to what I’ll term the “Turnbull effect”. Indeed, this effect has not gone unnoticed at the RBA, with the post-meeting statement noting… To read more visit: (VIEW LINK)