RBA expected to join Fed and RBNZ in cuts, say traders

RBA expected to join Fed and RBNZ in cuts, say traders, by John Durie.

The Reserve Bank of Australia is set to join its global peers in cutting interest rates and in the wake of the coronavirus.

The move will follow the Reserve Bank of New Zealand decision to cut its official rates by 75 basis points and the US Fed’s decision to cut rates to zero.

Traders in Australia say it is inevitable the RBA will move either today or tomorrow.