Picture: AAP Image/Mick TsikasThe RBA move would mirror the Federal Reserve in the US and its New Zealand counterpart and follows its decision to embark on buying government bonds and quantitative easing —– effectively encouraging consumer spending by printing more money and pumping it into the economy.NAB released a market research note on Monday detailing the urgency for the RBA stepping in as the national and global economy continues to “rapidly deteriorate”.“There seems little point in waiting three weeks to deliver further support to the Australian economy on the interest rate front,” the economy watch note says.AMP chief economist Shane Oliver said the volatility plaguing global markets reflected the “huge uncertainty” the pandemic had created for investors.“They’re just trying to work out how long the virus will continue to impact economic activity and by how much,” he told news.com.au.“And at the same time, they’re also having to allow for the policy stimulus which might not offset the flow-on from the virus — it’s not going to stop people getting sick or staying at home, but it might stop companies going bust and households defaulting on their loans.Deloitte Access Economics partner Chris Richardson said given the actions taken by economic policymakers in other countries, the RBA “can’t be seen to be sitting on the sidelines”.“This is definitely a pedal to the metal moment,” he told news.com.au.“The difference between Australia and other nations won’t be interest rates, it will be the ability to use government budgets to pitch in on this fight. 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Key themes to watch out for and its potential impact on financial markets.This month’s Reserve Bank of Australia (RBA) meeting will occur on Tuesday 4 June at 2.30PM (AEST).Economic activity in Australia is showing signs of slowing. “And you’d prefer to be us. GDP is below trend, consumption is waning, and the labour market appears to be showing signs of fatigue. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. We began this with a healthier budget than almost any other rich nation in the world.”The health-based cause means the current financial crisis and looming recession is unique, Dr Oliver said, and therefore should by nature be temporary.“Once that disruption is removed and the virus has run its course, things will rebound a lot faster than we saw out of the GFC or past recessions,” the leading economist said.“But if things are allowed to get too bad then companies might start going bust and households might start defaulting on their loans.” On Friday it edged higher by 0.09%. The most extreme moves in fixed income markets would naturally occur should the RBA defy expectations and leave rates on hold, even if only for one more month. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. A careful eye will be cast towards the RBA’s commentary about the labour market, and whether current economic conditions are sufficient to see it 'tighten'.Some hope is emerging amongst that the downturn in the Australian property market may be slowing. An increase in the unemployment rate to 5.2 per cent, as well as an increase in the underemployment rate and a contraction in full time jobs, paved the way for potential interest rate cuts from the RBA at this Tuesday’s meeting. Picture: AAP Thus, it’s almost certain the RBA will keep policy unchanged at its next meeting on Tuesday. Home Forex Market News Weekly forex data: the RBA’s meeting and the NFP. The re-election of the Coalition government has also been a net-benefit for property, given their promises to forego the negative-gearing and capital-gains-tax reforms floated by the Labour opposition. Interest now will be in what the RBA thinks about the impact of these developments; and whether cutting interest rates will stoke property prices, or exacerbate already high levels of private debt.Financial markets are overwhelmingly preparing for an interest rate cut from the RBA.

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