We’re keenly awaiting the Reserve Bank’s latest decision, which is likely to be an interest rate hike.
Money markets are betting the odds of a rate increase are roughly 70 per cent, while economists from the ‘big four’ banks (Commonwealth Bank, Westpac, ANZ and NAB) are all anticipating the cash rate will rise to 4.35% this afternoon.
Meanwhile, Reuters has surveyed 38 prominent economists and nearly all of them (around 90%) predict there will a rate rise today.
The Australian share market is likely to fall in morning trade, following a lacklusture session on Wall Street.
The main US stock indexes are trading flat on Monday afternoon (local time), though that was after they posted very strong gains last week.
Also, it’s worth keeping in mind that daylight savings has ended in the United States. This means Wall Street will now close at 8am AEDT until early March.
The Australian dollar has slipped to 64.9 US cents.