It’s the morning before a Reserve Bank of Australia board meeting, and one of the country’s top economists, Su-Lin Ong, is at yoga. The chief economist at RBC Capital Markets, like her peers, has already made a call on whether the central bank will cut, hold or raise rates. This is game day.
For economists like Ong, the accuracy of their predictions is key. Their clients – both internal and external – want to know what the RBA will decide even before its board has met. That information could influence hiring decisions, spending decisions, lending, and even the RBA’s own call.