Wait for the actions not the words. The expected speculation about an interest rate cut is underway just as my Crikey colleagues predicted it would be. One pundit this morning put the odds of a 0.25 percentage point cut at 50:50. That seems a bit high to me. I expect the Reserve Bank will do the prudent thing and wait until it sees that the federal government actually delivers its promised tough budget before making a decision. And the Crikey Interest Rate Indicator agrees.

Prime ministerial fashion sense. What memories the recent stories about Prime Ministers and their fashion sense brings back.