Latest / Best of Business / Murray Olds: Australian correspondent on the Australian Reserve Bank holding rates at 4.35 percent

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Murray Olds: Australian correspondent on the Australian Reserve Bank holding rates at 4.35 percent · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks'd be follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:17
  Speaker 1: International Correspondence with Ends and Eye Insurance, Peace of Mind
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  Speaker 1: for New Zealand.
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  Speaker 2: Business Mariol's as a corresponding with us now Mars Afternoon.
• 0:26
  Speaker 2: Heather got your fascinator on.
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  Speaker 3: Oh my, this looks fascinating. I actually I could do
• 0:33
  Speaker 3: I mean, the whole of head hair transplant. Would It
• 0:36
  Speaker 3: would be a lot better than.
• 0:40
  Speaker 2: Yeah, we'll have you heard about the Melvin Cup short.
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  Speaker 2: We just want to talk about the RBA decision. Rates
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  Speaker 2: have been held, have they?
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  Speaker 3: They have it four point three five percent as expected.
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  Speaker 3: I don't think anybody was tipping. I going a cup today,
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  Speaker 3: One more meeting in December and then end of the
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  Speaker 3: new year, and the feeling is that the Reserve Bank
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  Speaker 3: will move to cut in just rates. Look, inflation figgas
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  Speaker 3: have been good, but they're not as sweet as the
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  Speaker 3: Reserve Bank wants. And Michelle Bullock, I mean, if they
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  Speaker 3: thought she was going to be a pushover, get it.
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  Speaker 3: She's a very, very tough customer. She was the Deputy
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  Speaker 3: Governor of the Reserve Bank for a very long time
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  Speaker 3: and she has made it clear from the start she's
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  Speaker 3: not going to be bullied or pushed around by politicians,
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  Speaker 3: and she will be you know, she and the board
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  Speaker 3: will be altering rates when they think Australia is in
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  Speaker 3: a sustainable sweet spot. And that looks like being in
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  Speaker 3: the new year. All the big four banks over here
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  Speaker 3: anticipating rate cuts very very early in February, and some
• 1:37
  Speaker 3: of them three times next year, says the A and Z.
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  Speaker 3: Four cuts according to Commonwealth Bank and Westpac, and the
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  Speaker 3: NAB is saying well five and just raight cuts next year,
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  Speaker 3: So why jump ahead of the of the curve? So
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  Speaker 3: no cut, No early Christmas present expected next month either
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  Speaker 3: for mortgage holders. But watch your space in the new year.
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  Speaker 2: Now, good, okay, Now what have you taken out any
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  Speaker 2: bits on the Melbourne Cup?
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  Speaker 3: I haven't because I'm the most hopeless punter ever. The
• 2:05
  Speaker 3: last time I bet in the Melbourne Cup was nineteen
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  Speaker 3: eighty three, and have a guess who won? Kiwi Kiwi
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  Speaker 3: won in eighty three, lasted the last turn and stormed home.
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  Speaker 3: So today, if you've got any lazy dollars, Buckaroo has
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  Speaker 3: firmed up. Vau Brown is also right up there. Seven
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  Speaker 3: dollars earlier today one smooth operator was at eight bucks.
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  Speaker 3: The value bet they reckon was warm speed. If you're
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  Speaker 3: liking a female jockey, there are a record four in
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  Speaker 3: the race today. There's Jamie Carr on Okita Sushi, Holly
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  Speaker 3: Doyle on c King, Rachel King on the map, and
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  Speaker 3: we're known a cost on positivity. Mark Mara the jockey
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  Speaker 3: looking to run a hat trick, Heather his third straight
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  Speaker 3: Melbourne Cup if he gets up today on Circle of
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  Speaker 3: Fire and if you win, four point four million dollars
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  Speaker 3: to the winning connections, second gets one point one million,
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  Speaker 3: third gets a lazy half million dollars.
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  Speaker 2: It just like that, but cheeky alfa mil hey. So
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  Speaker 2: have these independent MPs actually canceled the lounges memberships.
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  Speaker 3: Well, they're saying they're going to. And don't expect a
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  Speaker 3: bad rush from all the other politicians in Federal Parliament,
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  Speaker 3: because that's one of the perks. These people really love
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  Speaker 3: a lot of them, the whole lot of them, both sides,
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  Speaker 3: all sides. The Greens are in there with the snouts
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  Speaker 3: and the trough the you know. And of course you
• 3:24
  Speaker 3: won't hear too many of the politicians saying all they're
• 3:27
  Speaker 3: doing is virtue signaling. These are independents, but that's exactly
• 3:31
  Speaker 3: what they're doing. I mean they've been called out for
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  Speaker 3: another greedy excess of grab that politicians always seem to
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  Speaker 3: get caught out on. I mean it's top of to
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  Speaker 3: them for free. I accept that, but it's just a
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  Speaker 3: crooked look. But everybody over here is eating Wickpis for dinner.
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  Speaker 3: The last thing. These people get about a quarter million
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  Speaker 3: dollars a year and start climbing from there. It just
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  Speaker 3: looks terrible. And for the opposition to be howling at
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  Speaker 3: Albaneasy about his house and about the flights, give me
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  Speaker 3: a break. I mean, Bridget McKenzie's the shadow Transport minister.
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  Speaker 3: I know I've never taken a flight. Oh yeah I
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  Speaker 3: did take one, oh my staff, And now look how
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  Speaker 3: many have actually taken. It's just baocracy written in neon
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  Speaker 3: lights right across the front of the stage.
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  Speaker 2: Yeah, nobody likes getting found out like that. Maz, thank
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  Speaker 2: you very much, going and enjoy the race. Appreciate your time, mate,
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  Speaker 2: Mariold's Australia correspondent.
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