Real Estate Institute Australia jumps gun on rate cut

So confident were they that the Reserve Bank was going to cut interest rates on Tuesday afternoon, they issued a press release welcoming the decision a full two and half hours before it had been announced.

Do they have a man (or woman) on the inside at the Reserve Bank? Have they somehow hacked into Glenn Stevens's consciousness? Are they soothsayers of the first order?

When contacted, a suitably chastened REIA staffer admitted she had simply pressed the Send button a little sooner than she was supposed to (noting that at least she prematurely sent out the right version of the 'reaction' press release).

We asked if her organisation had a hot tip for Race 7 at Flemington on Saturday – but sadly she wasn't able to oblige.

AFR Magazine