Live: ASX likely to open flat, Reserve Bank to decide on whether to lift interest rates for 11th straight month

By David ChauAustralian shares are likely to begin their day flat, after a mixed performance on US stock markets overnight.P 500, finished higher — as the OPEC+ surprise cuts to oil production boosted crude prices, which in turn lifted the price of energy stocks.

Meanwhile, Tesla shares tumbled after its electric vehicle deliveries for the March quarter disappointed investors. Tesla dropped 6.1% after disclosing its first-quarter deliveries rose just 4% from the previous quarter. That's even after CEO Elon Musk slashed car prices in January, in an attempt to boost demand.P 500 energy sector index surged 4.9% after Saudi Arabia and other OPEC+ oil producers announced unexpected output cuts that could push oil prices toward $US100 a barrel.

"The decision to cut [oil] production is a headwind for inflation ... and that's why, on balance we're seeing a generally 'risk off' bias," said Terry Sandven, chief equity strategist at US Bank Wealth Management in Minneapolis. Interest rate futures imply 56% odds the Fed will raise rates by 0.25 percentage points at its meeting in May , according to CME Group's Fedwatch tool.The Nasdaq fell 0.3% to 12,189, while the Dow Jones Industrial Average rose 1% to 33,601 points.

please don’t lift, it’s working. self employed and the calls have definitely dropped off.

Jim's already told RBA no rise.

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Home buyers are hoping and praying that the Reserve Bank will pause rate rises | 7NEWSHome buyers are hoping and praying that the Reserve Bank will pause interest rates at tomorrow's board meeting. But, experts consulted by 7NEWS say any reprieve could be temporary and the coming winter will bring more financial pain. 7NEWS Another .25 because people won't stop spending. If it's not this month it may be .40 next month. 📺🦠🪞
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RBA review more interested in ‘questions of governance’ than hitting targetsCentre For Independent Studies Chief Economist Peter Tulip says the RBA review handed to the Treasurer is more interested in “governance” and changing interest rate targets is “a bit pointless” if the bank is not going to reach them. “This review of our central bank is much more interested in questions of governance and how to actually make a central bank or give it the power to actually hit whatever target it’s been given, it’s a bit pointless changing a target if the bank is never going to hit it,” Mr Tulip told Sky News Business Editor Ross Greenwood.
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RBA tipped to pause interest rate risesSky News Political Editor Andrew Clennell is tipping a pause in the interest rate rises when the Reserve Bank of Australia meets on Tuesday. “Certainly, the government is hoping for this,” Mr Clennell said. “But it's fair to say they're unsure what the bank is going to do. “Whether or not there’s a further rate rise later in the year is an entirely different matter.”
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