I'm with you Henry. In fact, I don't think there's much of a case for an interest rate cut at all. Ed Shann's article in today's AFR makes a lot of sense. Business investment is growing; inflation is still high; and while the eastern states will suffer some increase in unemployment, skill and labour shortages are likely to persist in the growth states. Cutting interest rates in a high inflation environment, while productivity is low, is likely to mean there'll be a need for higher interest rates to choke off rising inflation in the future. That might well mean more pain, affecting more people, for longer.