The Board decided to maintain the current policy settings as expected by the markets. The board maintained its policy settings including: the targets of 10 basis points for the cash rate, the yield on the 3-year Australian Government bond; the parameters of the government bond purchase program; and the rate of zero per cent on Exchange Settlement balances.
Moving on. Australian stocks slid on Tuesday as rising COVID-19 cases in the state of Victoria dented market sentiments. Investors are eyeing a rate decision by the country's central bank later in the day. The benchmark ASX 200 index is trading lower today, having closed 0.2 per cent lower on Monday. Australia's second-most populous state Victoria added nine new local COVID-19 cases on Tuesday after state authorities called the situation "incredibly serious". Brazil's JBS SA said in a statement that Australian and North American units of the world's largest meat works were hit over the weekend by an organised cyber attack on its information systems. The attack caused its Australian operations to shut down on Monday.