Reserve Bank to cut cash rate, embark on money printing program to confront cororavirus crisis

The Reserve Bank is tipped to make an emergency interest rate cut to a new low of 0.25 percent today as it unleashes a quantitative easing program to cushion the economy from the coronavirus crisis. 

Also, banks are coming under pressure to offer deferred loan repayments to small and medium businesses as ANZ economists predict a recession and a jobless rate of 7.8 percent. 

ABC's Peter Ryan analyses the latest move by the Reserve Bank.