What April's RBA Decision Means for Investors
Last week we wrote a note titled "Mike Baird & Your Interest Rates". In our note we said the following "...Most economists will agree that interest rates are likely to change next week. We don't really listen to most economists. Economists didn't expect the rate cut in February, which transpired, while they predicted one in March, which didn't eventuate. There's more to learn from the real world and private conversations than listing to the so called experts..."As of yesterday morning, the money market was pricing in a 78% chance that rates would be cut. But we didn't change our mind, in fact we actually posted our note on social media for all to read. The lesson here for investors is that expert opinions only go so far in determining the state of the economy. Back your instinct. To see what data we think will sway the RBA, click to read our note. (VIEW LINK)
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