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Reserve Bank of Australia Lowe is appearing before the House of Representatives Economics Committee to discuss the outlook for the economy where markets are looking to the risks to the central view.
We will also see the release of the February Statement on Monetary Policy later today (00:30 GMT) which will include the full set of updated forecasts noted in the decision statement and Governor Lowe’s speech.
Having held in February, markets are now pricing a 15% chance of easing at the next RBA meeting on 3 March, and a terminal rate of 0.45% (RBA cash rate currently at 0.75%). AUD/USD has failed to really gain traction on the bid, running into prior support structure falling just shy of the 0.68 handle targets.