RBA meeting: Cautious language and rate cut hints

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The Reserve Bank of Australia (RBA) will wrap up its policy meeting early on Tuesday, at 03:30 GMT. Markets assign a 20% chance for an immediate rate cut, so if the RBA keeps policy unchanged, the aussie could spike higher on the decision. That being said, policymakers will probably strengthen their easing bias and send clear signals that rates may be cut as soon as April, so any positive reaction might remain short lived and the devastated currency could resume its downtrend before long.