UBS economists expect the Reserve Bank of Australia (RBA) to downgrade its economic growth forecasts on Tuesday. The central bank is also expected to keep rates steady at 0.75% and leave the door open for a rate cut in the second quarter. Key quotes The RBA is likely to again lower their cumulative growth profile by close to about 50 basis points, continuing their downgrade cycle. While additional bushfire-related Government spending of about $3 billion is likely, this is not enough to stop the RBA from downgrading their outlook. Bushfires and Coronavirus pose material downside to the RBA’s forecast of a strong acceleration to an above-trend 2.8 percent in the fourth quarter of 2020 and 3.1 percent in the fourth quarter of 2021. The RBA delivered three 25 basis point rate cuts in 2019. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Litecoin Price Analysis: LTC/USD slows down bullish action despite wedge pattern breakout FX Street 2 years UBS economists expect the Reserve Bank of Australia (RBA) to downgrade its economic growth forecasts on Tuesday. The central bank is also expected to keep rates steady at 0.75% and leave the door open for a rate cut in the second quarter. Key quotes The RBA is likely to again lower their cumulative growth profile by close to about 50 basis points, continuing their downgrade cycle. While additional bushfire-related Government spending of about $3 billion is likely, this is not enough to stop the RBA from downgrading their outlook. Bushfires and Coronavirus pose material downside to the RBA's forecast of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
