ASX to surge; RBA rethinks QE

Anastasia Santoreneos
·2-min read
ASX set to surge; RBA rethinks QE. Source: Getty
ASX set to surge; RBA rethinks QE. Source: Getty

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

Markets: The ASX is expected to surge, building on its strong start to the week off the back of encouraging coronavirus news.

The ASX200 finished 4.33 per cent higher last night, while the broader All Ordinaries finished 4.24 per cent higher.

In the US, all Wall Street major indexes surged more than 7 per cent on a drop in New York’s daily virus death toll.

The Australian dollar was buying 60.88 US cents at 0700 AEST, up from 60.50 US cents at the close of markets on Monday.

RBA mulls over QE policy: The Reserve Bank of Australia will today consider whether its bond-buying program needs tweaking, after introducing it on March 18 in the first out-of-cycle meeting since 1997.

Economists do not expect the RBA to touch the cash rate.

Commercial rent relief: The national cabinet is expected to meet today to formalise a code of conduct for tenants and landlords.

Bill Gates’ vaccine efforts: The Microsoft founder and philanthropist is spending billions of dollars to create seven possible vaccines for the coronavirus.

Gates revealed he was funding several efforts in partnership with other companies and countries to “save months, because every month counts.”

Lost your job? Being unemployed is tough at the best of times, but being unemployed during a pandemic only makes finding a new job even harder.

If you’ve found yourself out of work due to business shutdowns, here are a few things you can do.

Will businesses game the JobKeeper system? Dave Taylor says ‘yes’. While Australia is coming together to support one another during the pandemic, Taylor also writes that some people are trying to financially gain from it in an unethical way.

Have a great day.

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