March 18, 2020 / 9:47 PM / 11 days ago

Australian shares to fall ahead of RBA policy meet; NZ drops

    March 19 (Reuters) - Australian shares are set to drop on
Thursday as concerns about a coronavirus-induced recession are
likely to eclipse supportive measures anticipated to be
announced later by the country's central bank.
    Markets widely expect the Reserve Bank of Australia to cut
the cash rate to a new record low 0.25% and unveil quantitative
easing, including buying government bonds.
    The local share price index futures          fell 1.6%, a
119.2-point discount to the underlying S&P/ASX 200 index        
close. The benchmark dropped more than 6% on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         fell nearly
1.8% in early trade. 

 (Reporting by A K Pranav in Bengaluru)
  
 
 
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