Traders and economists broadly agree – the Reserve Bank of Australia will be cutting interest rates on Tuesday, its third reduction this year. But a few, including those at Citi and Bank of America, are unconvinced.

The Australian Financial Review’s quarterly survey of economists shows 32 of 36 expected the central bank to reduce the cash rate from 3.85 per cent to 3.6 per cent at the end of its two-day board meeting starting on Monday. The bond market has all but priced in a certain rate reduction.