It's unclear whether the Reserve Bank will drop the Official Cash Rate today in response to the coronavirus and whether it would help much
It's unclear whether the Reserve Bank will drop the Official Cash Rate today in response to the coronavirus and whether it would help much
12 February 2020
It's due to make an announcement this afternoon.
ANZ chief economist Sharon Zollner says a drop in the OCR from the existing 1 percent, would help in the margins, but wouldn't exactly hit the nail on the head.
She says a move in the exchange rate would give more bang for its buck but adds you can't rule out a cut in the OCR.
However, Zollner says the Reserve Bank has so few bullets left, it's likely to wait.
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