Positive start to November

THE local market skyrocketed 5% today on low volume with the bulk of Aussie stocks closing the session in the green after Friday’s gains on Wall Street and on rumours the Reserve Bank is looking to slash interest rates again.

Talk among economists is that the RBA may cut another 50 basis points off interest rates tomorrow, bringing the rate down to 5.5%.

Meantime, an unofficial measure of inflation fell 0.