The Reserve Bank of Australia has cut the official cash rate by 25 basis points to 2.25 per cent.
Westpac chief economist Bill Evans was one of few economists to predict the rate cut.
"We continue to believe that the February rate cut is the most likely scenario," he said.
"With markets now settling on the strong likelihood of a March move we see February as a much more attractive option for the RBA," Mr Evans said.
Commsec chief economist Craig James predicted the RBA would stay its hand, arguing "there's enough stimulus in the system already" given low petrol prices and the low Australian dollar.
AMP chief economist Shane Oliver pointed to the RBA’s statement in December that a period of stability in interest rates "remained prudent".
"Since [December] strong data for jobs and building approvals has offset softness in economic growth and inflation indicators," Mr Oliver said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
19 Jan 2018ASIC warns licensees over death nominationsBy Staff Reporter
18 Jan 2018ABA awaits government action on advice reformsBy Killian Plastow
18 Jan 2018SMSF sector grows 26% in 5 yearsBy Staff Reporter
18 Jan 2018ASIC accepts EU from former Suncorp adviserBy Staff Reporter
18 Jan 2018AIOFP to visit USA on 20th anniversaryBy Staff Reporter
18 Jan 2018AMP honours 'lifetime achievers' at advice summitBy Staff Reporter
- view all