RBA not likely to shift the playbook in today's decision

Author: Adam Button | Category: Central Banks

The RBA decision is at 0430 GMT

None of the 22 economists surveyed by Bloomberg expect to see a move in the RBA cash rate target of 0.25%.

Here is what RBC has to say:

The cash rate is set to remain at 0.25% for the foreseeable future. Following the unscheduled 18 March meeting, the key domestic development has been 2 additional fiscal packages worth almost 9% of GDP. These fiscal measures will take some time to work their way through the economy but, especially the JobSeeker payment, should be impactful. Coupled with unconventional policy being in its early days of operation, we expect little new news on the policy front from the RBA. We may, however, get some colour on how the bond buying program is working, underlying pulse of the economy, and latest assessment of the global outlook
 
Here is TD's view:

Following rapid easing and the move into unconventional policy last month, we expect the RBA to keep the cash rate on hold at 0.25%. We don't anticipate the RBA to announce any adjustments to policy, but any indication on volume and frequency of purchases will garner attention.
The Minutes of the special March 18 meeting showed no appetite for negative interest rates.

Here's TD's cheat sheet:
The RBA decision is at 0430 GMT
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