The Reserve Bank of Australia (RBA) on Wednesday said that the implementation of unconventional monetary policy tools like bond purchases is unlikely, however, the central bank would consider it, if necessary. The central bank delivered back-to-back rate cuts in June and July and is expected to cut rates further this year. While Westpac is forecasting two rate cuts by February, the analysts at National Bank of Australia expect the rates to drop to 0.25% by mid-2020 unless the government delivers meaningful fiscal stimulus. (full story)