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Australia shares poised to gain ahead of RBA policy rate decision

Published 02/03/2021, 08:25 am
Updated 02/03/2021, 08:30 am
© Reuters.
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March 2 (Reuters) - Australian shares were set to open higher on Tuesday, mirroring overnight gains on Wall Street, ahead of the central bank's policy meet later in the day where interest rates are expected to remain unchanged.

A Reuters poll shows the Reserve Bank of Australia is likely to hold key rates at a historic low of 0.1% at its monthly policy meeting on Tuesday, with rates seen at that level through the end of 2022. local share price index futures YAPcm1 rose about 9%, a 27.4-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 1.7% higher on Monday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 was up 1.17% by 2122 GMT.

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