Australian financial regulators in emergency meeting to discuss coronavirus impact: source

SYDNEY (Reuters) – Australia’s financial regulators will discuss the impact of a new coronavirus outbreak on Australia’s A$2 trillion ($1.3 trillion) economy in an emergency meeting on Monday, a source familiar with the matter told Reuters.

The Reserve Bank of Australia (RBA) will meet on Tuesday for its monthly rate review.

A Reuters poll last week found few analysts expected a cut from a record low 0.75%, but the sheer scale of market losses around the globe prompted financial futures <0#YIB:> to now imply a 96% chance of a move compared with just 18% last week.

Reporting by Swati Pandey; editing by Grant McCool

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