The Reserve Bank board meets today and it will be a huge surprise if interest rates are not cut — the first official rate move in almost three years, taking them to a fresh record low. Many eyebrows were raised when rates stayed the same, “on hold” to use economists’ jargon, at last month’s meeting. But, since then, RBA governor Phillip Lowe has raised expectations by explicitly stating that today’s meeting will consider the case for lower rates. It was a statement that moved financial markets and economists’ expectations. Given the strong headwinds building in the economy, Mr Lowe will have some explaining to do if his … (full story)

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