The RBA is tipped to keep the official Interest Rate on hold tomorrow making it a popular anchor into Melbourne Cup favourite Fame Game for punters.
Online bookmaker sportsbet.com.au has priced Cup favourite Fame Game, coupled with the interest rate to stay the same, at $6.00. Fame Game into an RBA decrease of 0.25% or under is next in betting at $10.
English import Trip To Paris to win the Cup and there to be no rate change is $12.75.
For the interest rate decision alone, the favourite way is No Change $1.50 in from $2.05. Next is a decrease by 0.01% to 0.25% at $2.50, out from $1.70.
“Bad news is normally announced on Cup day but it looks like the RBA won’t be lifting the rate. Punters are backing Fame Game and throwing in no cut to beef up their odds,’’ said sportsbet.com.au’s Ben Hawes.
Markets courtesy of sportsbet.com.au
November RBA decision into Melbourne Cup winner
$6.00 No change into Fame Game
$10 Decrease of 0.01% to 0.25% into Fame Game
$12.75 No change into Trip To Paris
$15 No Change into Preferment
$19.50 No Change into Criterion
$19.50 No Change into Max Dynamite
$21.25 Decrease of 0.01% to 0.25% into Trip To Paris
RBA November Decision
$16 Decrease by 0.26% or more (out from $11)
$2.50 Decrease by 0.01% to 0.25% (out from $1.70)
$1.50 No Change (in from $2.05)
$21 Increase by 0.01% to 0.25% (steady)
$101 Increase by 0.26% or more (out from $51)