Asian stocks turned mixed early Tuesday, as a rebound in crude oil prices brought mixed blessings, while speculation that the Reserve Bank of Australia (RBA) will cut rates today continued to buoy Australian equities.
The RBA is expected to unveil a 25 basis-point interest rate cut at its policy meeting, bringing rates to a fresh record low after holding them at 2.5 percent since August 2013.
The Indian central bank is also due to meet today and its policy decision will be a close-call, analysts say, after a 25-basis-point cut in the key repo rate on January 15. The move caught markets by surprise as it was the Reserve Bank of India’s (RBI) first rate cut since March 2013 and had been an off-cycle policy move.
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