“There (might) will be another rate cut before the end of this year and possibly one in 2013 as well. Because the Reserve Bank is not only more concerned about the international outlook. That was the primary reason why they cut rates yesterday. But also they are foreshadowing..... they are becoming more concerned about the outlook for the domestic economy. And that's partly becasue, as you said, they can see the resources boom peaking earlier and at a lower level than they had previously thought.”

 

 

Sol Laslaker there. Let's go to the markets. 

 

 

 

The Dow Jones lost 33 points overnight. The Nasdaq finished up 7. The S&P 500 was steady. And across in London, the FTSE shed 11 points.

 

 

To commodity markets.

 

 

West Texas Crude is trading at 92 US dollars a barrel. Tapis Crude is 116 US dollars a barrel. And gold is at 1773 US dollars an ounce. 

 

 

The Australian dollar has shed some ground after that rate cut. It's buying 103 US cents. It's also picking up 79 Euro cents and 64 pence sterling.