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Tomorrow is the day a lot of AUD traders have been waiting for; the scheduled meeting of the RBA.

Not because we expect the bank to make any significant policy changes, but to see what the expectations of the bank are after all the changes they’ve already made.

Before the coronavirus outbreak, the RBA had intimated that a 0.25% reference rate would be the bottom of their policy range. And if more easing was needed, then they turn to unconventional measures.

Well, that’s where we are now. So, what will the bank do going forward?

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The Need for Easing

The data has taken somewhat of a backseat to news about the pandemic. On Friday, the market hardly reacted to a major upset with the NFP figures.

Over the weekend, it appeared that the number of cases was finally leveling off, which has put some risk appetite back into the markets. But it also appeared that China was bracing for another wave of infect...

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