Thursday 9th October 2025

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The Fed minutes are out, and NAB’s Ray Attrill joins Phil to peruse the 40 pages to see what prompted the decision to cut rates, even though there were concerns over rising inflation. They also discuss RBNZ’s big cut yesterday, with more to come. And they look at gold, which pushed higher, even against a stronger US dollar. Ray puts it down to a lack of choices when it comes to stable currency investments. The Yen, for example, is getting weaker and Europe is being hit with more weak economic data.

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