Forex Flash: RBA to cut rates to its lowest level since 2009 at 3.0% - UBS (San Francisco) - The Reserve Bank of Australia is scheduled to release its rate and monetary policy decision next Tuesday December 4th at 03:30 GMT, 2:30 Australia time, (Monday 10:30 pm US EST) and market expects the bank to cut by 25 bps from 3.25% to 3.00%.

UBS's Strategists Geoffrey Yu and Manik Narain believe that "the uncertainty around US fiscal cliff negotiations together with recent weaker business/capex surveys to tip the RBA over the line for a 25bp cut."

The UBS bank expects the RBA Cash Target to be cut to 3.00% from 3.25%. IN this case, the Reserve Bank of Australia would cut its rate to the lowest level since September 2009.