Recent last-minute adjustments mean you can’t be 100 per cent certain of these things but the greatest likelihood is that at its meeting tomorrow the Reserve Bank board will decide to cut the official interest rate by another 1 percentage point.

Most business economists polled by AAP are expecting a cut of 0.75 percentage points, while the money market itself is expecting 1.25 percentage points.

The former’s too low whereas the latter looks a bit odd. Average the two and you should be right.

Almost all the indicators we’ve seen for the world economy show it weaker than was apparent a month ago. Real growth in gross domestic product during the September quarter has been negative for all the major developed economies.

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