Round and round we go

by BN20 Mar 2012

And they’re off! The RBA is first out of the gates, which will come as a surprise to some, considering the fans have been at each other’s throats over whether the horse would go forward, back to the stalls, or just stay stubbornly put on the line. And who’s just behind? Well, it looks like ANZ, who is odds-on favourite to follow the RBA by exactly two lengths to the finish line. Then there’s that slightly tubby stayer, the Commonwealth Bank, which is behind by a length, Westpac is running high on the outside, and there’s NAB sneaking by the rest on the inside rail - but this could just be a cheap trick. Have you got your bets on? Well, if you haven’t, you’re mad, because this is the race everyone is watching, and everyone wants to be a part of - the monthly “Rate Rumble Cup”. We’ve got the politicians in the stand (Look, there’s Wayne Swan, bleating at the top of his lungs that they are all going the wrong way - doesn’t look like they’re listening) and there’s the pack of journalists (who seem to be moving about just like a flock of geese, trailing the bank pack in a predictable formation), and there’s the accompanying chorus of the housing industry choir (in tune as usual, singing to be heard over the ruckus, but drowned out as usual). And there, spectating in the stands, we have those poor, powerless masses of mortgagors, leveraged to the hilt and on the edge of their sweaty seats as they await the outcome– the biggest punters of all. Put your bets on! Put your bets on! The stakes have never been higher – and that’s just how we like to gamble.