More than just economists are predicting no change to the official cash rate when the board of the Reserve Bank of Australia meets later today.
Betting outlets have decreed with almost as much certainty as possible that the rate will remain untouched at 2% with markets having it priced as an almost unbackable favourite.
In fact, the odds of no change are so low the prices being offered are shorter than what punters got when betting on champion race horse Black Caviar's career of 25 wins from as many starts.
CrownBet has no change priced at a $1.03, meaning gambler would receive three cents return on every dollar they put down, a price CrownBet head of marketing Haydn Lane said won’t come around often.
“In betting terms, it’s as close to a certainty as you’re likely to see for some time,” CrownBet’s Haydn Lane said.
“Punters believe the announcement is a foregone conclusion,” Lane said.
Returns are even worse at rival outlet, Sportsbet who have no change priced even shorter at $1.02.
While backing the no change option will require significant outlay to see a worthwhile return, there are other options for the “investor” willing to take a bit more of a risk.
With CrownBet, a decrease of 0.01%-0.25%
is paying $8.00, while an increase of 0.01%-0.25%
is paying $16.
Rival Sportsbet is offering $11 for a change of between 0.01%-0.25% and $51 for a change of 0.25% or more.
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