Interest rates down 100 basis points
One aspect of the Sawford formula is now trending downwards!
Update: The Sydney Futures Exchange 30 Day Interbank Cash Rate Futures and Options contracts indicate that the market is betting on a further significant interest rate drop come the first Tuesday in November. At 13 October, the market has priced in at least a further 75 basis point cut in interest rates. Check out the SFE target rate tracker here.
Update 2: At the end of trading on 14 October, following the release of the economic security package, the market had reduced the size of the anticipated cut in interest rates in November from 75 basis points to 50 basis points.
Update 3: by 17 October, the market prediction was back to 75 basis points.