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The RBA cash rate meeting tends to be overshadowed
by the race that stops a nation.
Over the past five years the cash rate has been altered four times
but the current odds of interest rates remaining on hold this month are quoted by Sportsbet at one dollar and one tenth of a cent.
That means a bet of $1,000 would need to be made to receive one single dollar in return!
They don’t get much shorter than that.
So is a rate movement worth a bet?
Well, for those who do like a punt a rate rise is considered about as likely as Verema winning the Melbourne Cup this year,
while a rate cut of up to 0.25% is offering similar odds to current Cup favourite Fiorente.
Personally I wouldn’t be betting on an RBA rate movement on Melbourne Cup Day,
but it depends if you like the thrill of an outside chance.