The Reserve Bank of Australia (RBA) is expected to cut rates to 0.75%. It has kept the rates unchanged for a couple of months, after two 25bp cuts this year already. The attention will shift to the RBA statement which will be released at the same time as the interest rate decision. The RBA was expected to cut interest rates in the May meeting but they left them unchanged, although they cut them in June by 25 bps. The RBA did so again in the July meeting, bringing them to 1.00%. Although, they let markets know that they will follow the FED, who cut rates in the last two meetings. The RBA did the same and cut rates to 0.75% in September but are expected to keep them unchanged now. RBA governor Lowe said that rate cuts are showing effects in the economy, but they cut rates twice in March, bringing them to 0.25%. I don't think they will cut them again this time, because Australia was tackling coronavirus well. Other central banks have started hiking rates, and the RBA has done so already in the last few meetings, while this time they are expected to raise rates by 50 bps again, taking them to 2.85%. Please follow us for live coverage of this event and the impact it might have on the currency.