Interest rates and inflation much lower since John Howard left office: Stephen Koukoulas Tweet of the Day

Ahead of today's RBA meeting, economist Stephen Koukoulas @TheKouk says it is "almost certain" that the RBA will leave the cash rate on hold today at 2.75%.

"The Kouk" has also tweeted that mortgage rates and inflation are much lower since John Howard left office in 2007:

He says it a "reasonably straightforward" decision for the RBA due to an "uptick in the interest rate sensitive sectors of the economy, in particular housing and consumer spending".

"On the down side, there is no doubt that mining investment is in the early stages of decline and this will be a drag on economic growth over the medium term. It is likely to be a key point that will see the Reserve retain a bias to cut interest rates, 'if circumstances permit,'" he writes in Business Spectator.