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Breaking: RBA cuts Official Cash Rate by 25 bps to 0.50%, AUD/USD jumps

At its March monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.50%, as they weighed in the coronavirus outbreak risks.

According to the latest Reuters poll, a majority of the 35 economists polled expected the central bank to maintain the status quo.

About RBA rate decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

Australia RBA Interest Rate Decision came in at 0.5%, below expectations (0.75%) in March 3

Australia RBA Interest Rate Decision came in at 0.5%, below expectations (0.75%) in March 3
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RBA: Board took this decision to support economy as it responds to global coronavirus outbreak

Following are the key headlines from the March RBA monetary policy statement (via Reuters): Board took this decision to support the economy as it resp
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