Debunking bubble economies - Australia pt6

Oct. 5 (Bloomberg) -- Australia’s central bank unexpectedly left its benchmark interest rate unchanged for a fifth straight month, triggering the biggest drop in the local dollar in six weeks amid signs of cooling domestic demand.

Reserve Bank of Australia Governor Glenn Stevens kept the overnight cash rate target at 4.5 percent, as forecast by only six of 25 economists surveyed by Bloomberg News, the RBA’s statement showed in Sydney today. Stevens added that it’s likely that higher borrowing costs will be needed “at some point.”

Unexpected, as usual. What a surprise! Fortunately, my dear readers can't enjoy the same surprises, since I stated, more than 2 months ago:

I'm about as sure as anybody can be that rates have topped in Australia and that the next move is going to be down.

Unfortunately, you can be right about everything, but still get hammered by the market: