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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.