RBA and Australian Employment Preview: Modest cut will hardly do something for the economy
It’s going to be a busy start to Thursday in Australia, as the RBA has planned an emergency meeting, while the country will release alongside February employment data, Valeria Bednarik from FXStreet informs.
“Market players are anticipating a 25bps rate cut in Australia, to a record low of 0.25%, although such modest cut will hardly do something for the economy.”
“The country is expected to have added 10,000 new jobs in February, while the unemployment rate is expected to remain unchanged at 5.3%.”
“A better-than-expected report could help the Aussie bounce a bit from current lows, particularly considering extreme oversold conditions.”