Read the RBA's May2020 interest rate decision, available at a link here:

https://www.rba.gov.au/monetary-policy/int-rate-decisions/2020/

Explain:

1.Yourunderstanding of why the RBA made the decision that they did, with respect to the content of the interest rate decision statement itself and also the RBA's policy objectives

2.What the RBA's monetary policy decision means in terms of practical implementation

3.The expected transmission of the monetary policy decision to economic outcomes