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
- 18 Aug 2017ASIC permanently bans former AMP adviserBy Staff Reporter
- 18 Aug 2017IRESS announces first half resultsBy Jessica Yun
- 18 Aug 2017Banks the key to closing advice gap, Tria saysBy Larissa Waterson
- 18 Aug 2017Adviser ethics certification launchedBy Staff Reporter
- 18 Aug 2017Banks evade FOFA, industry funds claimBy Larissa Waterson
- 16 Aug 2017UBS appoints head of wholesale distributionBy Staff Reporter
- view all