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28 Feb 2020
RBA to keep rates unchanged at March 3 meeting - Reuters Poll
The Reserve Bank of Australia (RBA) will keep its cash rate or the benchmark interest rate unchanged at a record low of 0.75% next week and may cut twice later in the year, a Reuters poll showed.
Key quotes
A majority of the 35 respondents expect the Reserve Bank of Australia (RBA) to keep its benchmark rate at 0.75% at its March 3 policy review.
As many as 29 of 35, or 83% of those polled, forecast the first rate cut of the year to 0.5% before June.
18 of 35 respondents expect a second rate cut by year-end.
With coronavirus spreading fast outside China and threatening to put a sizeable dent on global growth, markets have turned risk-averse, putting pressure on central banks to act.
Markets think there is a 99% chance of the US Federal Reserve cutting rates by 25 basis points in March.