Reserve Bank interest rates could be lucky for Sydney punter

Thursday 28 May 2009

Article by Mozo

One Sydney punter hopes that the Reserve Bank interest rates remain at their 49-year low after placing a $45,000 bet on the outcome.

The punter is hoping that the Reserve Bank interest rates stay at their low of three per cent, News.com.au reported.

It noted that the individual has wagered $45,000 on his preferred outcome at the next board meeting on Tuesday (June 2nd).

"We had the no change option very short from the beginning at $1.14, but it shortened to $1.12 after a Brisbane client wagered more than $5,000 at the opening price," Centrebet media chief Neil Evans told the news resource.

And they could be in luck in winning large on their Reserve Bank interest rate predictions, the website stated.

Just last month they pocketed $30,000 after betting $90,000 that the interest rates would remain the same.

The Reserve Bank Monetary Policy Committee last month decided to lower the cash rate by 25 basis points to three per cent.

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