Drawing attention to an article by RBA..........>

RBA: Drawing attention to an article by RBA watcher Terry McCrann last night

where he says that "Apart from anything else, it is not absolutely certain that

the next rate change will be a hike. Simply, that absent a left-field shock that

forces its collective hand, Cup Day is the next opening if governor and board

get to feel the itch." 

-Note that in an article on June 21, McCrann only discussed the possibility of

next rate move being a hike. He said "the RBA believes that, when and if it does

change its rate, it will be to lift it." He also wrote then, "it is critical for

me to emphasise that is what it (RBA) thinks right now. It would cut if we got

hit by a left-field disaster, whether global or domestic."

-Also note MNI Insight published on July 18 saying the direction of the next

move for the RBA's cash rate could be up or down, and the Australian dollar

could be key determinant of the next move.