So we have been hit with a Double whammy on  the Melbourne  cup day , thanks to  Shocking and the RBA.

• • First We lose our money as none of the favorites VIEWED , ALCOPOP , Roman Emperor manage to make a mark with shocking giving us a stunning finish.
  • Second The RBA rubs salt into our wounds by announcing  a Rate Hike of 25 basis points  to empty our bank accounts even further

Yesterday’s 149th Melbourne Cup, before a crowd of 102,181, will be remembered for how physical it was. Caulfield Cup winner Viewed was bumped many times, as was the favourite Alcopop, while Daffodil nearly fell. Michelle Payne, riding in her first Cup aboard Allez Wonder, was surprised at some of the tactics.

Winner MELBOURNE CUP 2009 – SHOCKING

MELBOURNE CUP 2009 Results

1. Shocking

2.Crime Scene

3. Mourilyan

4.Master O’Reilly

RESULTS FOR MELBOURNE CUP 2009

Pic courtesy :www.ozbet.com.au

Crime scene did a good job taking  in  second place by a whisker after shocking. It was shocking new to many  as non of the favorites   won and many  punters  disappointed .. but leaving the bookies laughing.

RBA RAISES RATES BY 25 Basis Points today 3 Nov 2009

To add to our misery The RBA went ahead and did a 25 basis point rate cut today   and   thus  be ready to see even more money  going out from your bank account if  you hold a mortgage

As was widely expected by economists, the Reserve Bank board lifted the cash rate by 25 basis points to 3.5 per cent. Mr Swan says Australians should expect rate increases as the economy recovers from the global financial crisis.

WESTPAC has matched the central bank, increasing its standard variable mortgage interest rate by 25 basis points.

The bank’s standard variable home loan rate will rise to 6.31 per cent as of Friday November 6, from 6.06 per cent, Sydney-based Westpac said in a statement on Tuesday.

LINKS :

CASH RATE TARGETS AUSTRALIA

Article: www.australianstockwatch.com