00:00Will they cut?
00:04The Reserve Bank tomorrow releases its decision on interest rates and the market says absolutely.
00:10A 98% certainty of a 25 basis point cut.
00:14That's an even stronger consensus than last time when the market turned out to be 100%
00:20wrong.
00:21In July, the central bank surprised by holding the cash rate at 3.85%.
00:27Since then, inflation has fallen and unemployment has lifted, seriously increasing the likelihood
00:33that the cost of borrowing money will fall.
00:36We'll find out tomorrow.
00:38On Friday, US markets ended near record highs.
00:41Japan's index rocketed today off some good results from companies like carmaker Toyota.
00:47Ours took off from there.
00:49The All Ordinaries Index of our 500 biggest listed companies up 2% last week, another
00:54half a percent today.
00:56Retailer JB Hi-Fi released a strong profit result but investors tuned out wanting more.
01:02Our dollar was softer in trading but only moving marginally down against the dominant US greenback.
01:08And commodity markets were generally lower.
01:11Gold remains near record highs.
01:13It's usually considered the store of value in trying times.
01:17But even though digital payments and surcharges now do the overwhelming share of transactions,
01:22there are more than $104 billion worth of banknotes out there.
01:27Divided by our population, that's more than $3,700 for each person.
01:32And that's finance.
01:34And that's finance.
01:35And that's finance.
Comments