Daily FNArena News - Australia

The RBA has decided to cut the overnight cash rate by 100 points to 6.00%.

TD Securities has released its inflation gauge for September.

TD Securities argues that a string of large RBA interest rate cuts ahead is not to be expected.

As Rio investors celebrated a positive ruling from the ACCC, the downturn in expected commodity demand has now moved into the bulk material space.

Lend Lease has expanded its retirement assets via an increased stake in Babcock & Brown Communities.

Harvey Norman has lowered its forecasts for FY09 on the back of weak performance in its Irish operations, but some brokers see an opportunity.

Personal credit growth is at its weakest since the 1990s recession and housing credit growth its lowest since 1983, strengthening the case for another rate cut.

OneSteel is lifting its New Zealand exposure via a bid to buy the balance of Steel & Tube Holdings it doesn’t already own.

Sonic Healthcare’s recent underperformance has sparked an upgrade from Merrill Lynch, leaving it the most preferred among local healthcare plays.

At least one broker is worried Wesfarmers is heading to hell in a handcart. Another sees an extraordinary buying opportunity.