McCrann at it again

I swore off reading Australian Herald Sun RBA watcher Terry McCrann but he’s evidently trying to restore his reputation in today’s column by saying the RBA will cut rates next week.

The chance of a rate cut next week is at least 50-50; and in my judgment is actually the more likely outcome.

It’s getting some attention but McCrann’s track record over the past few years is laughable. No economist surveyed by Bloomberg forecasts a cut.