Reserve Bank interest rates: RBA meets to decide whether to cut cash rate – live

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Will they or won’t they? Members of the Australian bank’s board are gathered in Sydney amid speculation that they will reduce borrowing costs. Follow all the updates before the verdict at 2.30pm – and reaction

• Greg Jericho: balance in favour of RBA keeping rates on hold – but only just

Here we go ... standby

We will be watching what happens to the dollar very closely after 2.30. It has hung grimly on to a level above US70c for some months now despite expectations that it would sink further.

It has crept up to US70.03 this afternoon. Maybe traders think the RBA will hold (higher rates = stronger currency generally speaking).

Wondering if we're going to see a quick rip and dip in $AUDUSD if the #RBA delivers a dovish hold. (Keeps OCR at 1.50% but offers a dovish forward-guidance for monetary policy).

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