$A catches coronavirus, plummets to 11-year low

Original article by Tom Richardson
The Australian Financial Review – Page: 27 : 3-Mar-20

The Australian dollar reached a low of $US0.654 in local trading on 2 March, ahead of the Reserve Bank of Australia’s monthly board meeting. Financial markets have priced in a near-97 per cent chance that the central bank will reduce the cash rate on 3 March, and a 67 per cent chance of a second rate cut in May. Morgan Stanley expects the cash rate to remain on hold until April, giving the RBA time to assess GDP data to be released on 4 March. The Commonwealth Bank says the economic impact of the coronavirus could prompt the Australian dollar to fall further in coming days.

CORPORATES
RESERVE BANK OF AUSTRALIA, MORGAN STANLEY AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s