Of course, dwelling prices are only one small piece of the interest rate puzzle, but iron ore is resilient, the dollar has weakened and unemployment has not surprised on the upside.
Our stock market has been fairly bounding along for months now.
Overseas China's manufacturing data was solid, and in the US there are reports of rising house prices and consumer confidence.
Therefore, there seems no reason to risk igniting domestic housing any further by cutting again to just 2.75%.
It's on hold for me.
Source: RP Data