Well sort of a shock.
I was anticipating a 0.25% cut tomorrow and then another in November with several more next year.
The Australians cutting 1% this week made it seem more likely that we would get a 0.5% cut ourselves.
The cut gave the markets a temporary lift, before falling back again.
Hopefully the banks will not pass this on to savers, encouraging savers to help capitalise the banks.
What odds another 0.5% next month?