Considering economic developments, it would make sense for them to discuss a potential 50 bps rate cut. But as the job is not quite done yet on inflation, it may be an overreach to move that quickly especially with core inflation still seen at 2.7% in the latest report here. The disinflation process is facing a couple of bumps and I doubt policymakers will be too confident in dismissing that for now.

This article was written by Justin Low at www.forexlive.com.