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The RBA Governor released an out of schedule statement on Monday, 16th Mar. Details will be released at 06:00 GMT. The RBA will publish its cash rate decision before that announcement at 04:30 GMT, economists at TD Securities apprise.

Key quotes

“We expect the RBA to cut the cash rate to 0.25% to address the dislocation in bond markets via an Asset Purchase Program and formally announce Yield Curve Control for implementing QE.” 

“We don’t expect the RBA to cut 50bps as this would push the floor of the interest rate corridor into negative territory.”

“With the cash rate at the effective lower bound, we expect the Bank to convey its strong intent to keep the cash rate at 0.25% for a sustained period.”