McCrann thinks so:
THE Reserve Bank will more than probably leave its official interest rate unchanged at its first meeting back for the year next Tuesday.
But the chance of a rate cut, while an outside one, is by no means quite as trivial as the market pricing and the economentariat consensus would have it.
It does seem unlikely given that both house prices and equity prices are up materially since the Dec meeting — so financial conditions have eased somewhat by themselves. However i agree with TM that with inflation being revised lower, and with the likely global growth downgrades (see weak Q4 US and UK GDP and the IMF downgrades in the Jan update to the WEO), it is a close run thing.