Money markets predicting the Reserve Bank ‘won’t change rates’ at next meeting

Reserve Bank Deputy Governor Andrew Hauser has given a speech to the Economics Society in Queensland about forecasting. The speech was entitled ‘Beware False Prophets’, says Sky News Business editor Ross Greenwood. “After showing modelling that suggests even the weather bureau predicts within a range of consistency, he noted that claiming supreme confidence or certainty over what is an intrinsically uncertain and ambiguous outlook is a dangerous game. “Money markets today say there's an 87.8 per cent chance the RBA won't change rates at its next meeting in September.”