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RBA
RBA: VIEW: The latest RTRS poll notes that "Australia's central bank is all but
certain to keep its cash rate at a record low 0.25% at its May 5 meeting with
policy likely to remain unchanged through end-2021, according to a Reuters poll
of 23 economists. The Reserve Bank of Australia (RBA) has forecast the country
would suffer its biggest economic contraction since the 1930s in the first half
of this year due to containment measures to curb the spread of the coronavirus.
To blunt the economic shock, the RBA cut rates to all-time lows in March and
launched an "unlimited" quantitative easing programme aimed at keeping
three-year bond yields at 0.25%. RBA Governor Philip Lowe has said repeatedly
the bank would not take rates further down. The Reuters survey showed all but
one of the 23 economists polled expect the RBA to keep rates steady at least
until end-2021."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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