RBA expected to keep rates on hold – UOB

Economist at UOB Group Lee Sue Ann believes the RBA will keep the overnight cash rate (OCR) unchanged at this week’s meeting.

Key Quotes

“We think the RBA will not be changing the OCR for at least some time. In terms of QE, RBA Governor Philip Lowe emphasised that the Board did not take the latest decisions lightly. We believe this is probably the start, and not the end, of measures the RBA will eventually have to undertake to cushion the impact from COVID-19.”