[Looks to me at this moment in time that your thought an a 10 cent RV may be pretty accurate…if this was the starting point, will we see a fixed float or a free float.]
Fixed or float – I have differing opinions on that one. BOTH are positive, because the CBI won’t launch a new rate until they know they can sustain it… so if it’s a float, it will only go up in value. Bonus for us!
But if they have any concerns at all, then they might want to peg it (fix) for a time to prevent any movement and control the value. Again – Good for us, because we won’t lose value!
My final answer is a hybrid –
it’s very easy to see them coming out fixed, and then switching to a float once they are confident. With the way the CBI moves, we might want to assume that they would hold it fixed for years, but the other side of that coin is that when the CBI makes a big move… I believe they are going to be ready to play, and they will do things we don’t expect.
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