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RBA: Board took this decision to support economy as it responds to global coronavirus outbreak

Following are the key headlines from the March RBA monetary policy statement (via Reuters):

Board took this decision to support the economy as it responds to the global coronavirus outbreak.

To ease policy if needed to support sustainable growth.

Coronavirus has clouded the near-term outlook for the global economy.

 

more to come ....

Breaking: RBA cuts Official Cash Rate by 25 bps to 0.50%, AUD/USD jumps

At its March monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.50
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AUD/USD rises 30+ pips following RBA rate cut

AUD/USD takes the bids near the intra-day high of 0.6565 after RBA announced a 0.25% cut into its benchmark interest rates on early Tuesday. While the
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