Will the RBA cut rates today?

This afternoon the Reserve Bank of Australia is scheduled to hold its March Board meeting and make its Official Cash Rate announcement.

This will be its second meeting of the year. The first meeting in February saw the central bank keep rates on hold.

Will the RBA cut rates in March?

A rate cut to zero is certainly in play judging by the ASX 30 Day Interbank Cash Rate Futures.

On Monday, the March 2021 contract was trading at 99.965, which indicates a 69% probability of an interest rate decrease to zero at today’s meeting.

However, not everyone believes a cut is in play at today’s meeting.

According to the latest weekly economic report out of Westpac Banking Corp (ASX: WBC), its economics team are ruling out any action…