March 7 Australian shares were seen opening
slightly lower on Tuesday as investors awaited a meeting of the
Reserve Bank of Australia that is widely expected to keep the
main interest rate at a record low of 1.5 percent.
The local share price index futures was down 0.1
percent at 5720, a 26.5-point discount to the underlying S&P/ASX
200 index close. The benchmark closed 0.29 percent
higher on Monday.
According to the latest Reuters Poll report, all 67
economists polled by Reuters forecast the RBA would stand pat on
March 7, following two rate cuts last year.
Meanwhile, miners and oil producers in Australia are likely
to be hurt by an overnight decline in commodity prices.
In overseas trading Wall Street fell overnight, hurt by
renewed turbulence surrounding the Trump administration and by
geopolitical tensions in Asia.
New Zealand's benchmark S&P/NZX 50 index was flat at
7171.57 in early trade.
For a summary of overnight action across global markets,
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(Reporting by Anusha Ravindranath in Bengaluru; Editing by