For 150 years, the first Tuesday of November has marked the day Australians drop everything to take a punt.

Work is suspended for at least an hour, if not abandoned altogether, as the 3pm start time approaches for race 8 at Flemington.

In Victoria, only essential services are on call as Melbourne all but shuts down for a four-day weekend.

This year, the betting will extend well beyond horseflesh and silks and the confines of Melbourne. Already, punters are putting money on another perennial Australian favourite, real estate.

In what has become a recurring theme, Melbourne Cup Day has frequently coincided with a Reserve Bank of Australia interest rate move.

What makes Cup Day a pivotal rate day?

Where are rates heading?

The Reserve Bank's economic outlook suggests further room to cut

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