The Reserve Bank of Australia kept the cash rate at 0.75% yesterday, with governor Philip Lowe saying the economy had passed a gentle turning point and that the board wanted more time to see how the current low rates played out.
Heading into the end of the year, a Xmas period rally in shares could be possible. While we would not want to attempt to read Trump’s mind, we note it is worth keeping in mind President Trump is looking to win an election next year.
ANZ shares took a hit yesterday on the back of weaker than expected full year earnings.
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