The Reserve Bank's expected to opt for a middle-ground 50-basis point cut to the Official Cash Rate on Wednesday

Treasury's warning we're currently in a larger per-capita recession than the Global Financial Crisis, due to falling productivity.

But JB Drax Honoré Chief Asia Pacific Strategist Sean Keane says the Reserve Bank will be pointing to headline figures.

He says unemployment is below five-percent, the exchange rate has been relatively calm, and overall GDP is reasonable.

Keane says the Reserve Bank is painting itself as having inflation under control, without wrecking the economy.
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