RBA rate call extraordinaire Rory Robertson makes his last prediction
The economist has spent three decades trying to interpret the smoke signals emanating out of Martin Place. He’s giving up the game as it’s profoundly changing.
Prediction and forecasting is all part of the job description for a market economist. Yet correctly calling the Reserve Bank of Australia’s next move is what can make or break a reputation.
And as 32 of 36 professional market economists surveyed by The Australian Financial Reviewfound out this week, it can be incredibly humbling. The RBA’s shock decision to hold the cash rate totally wrong-footed most of these experts, leaving them scrambling to explain what happened.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
