RBA Expected to Cut Interest Rates, Buy Bonds, UBS Says

The transcript discusses the Reserve Bank of Australia's (RBA) response to economic conditions, focusing on the need for additional policy measures due to global uncertainties. It covers expectations for bond buying, cash rate adjustments, and the potential impact on the Australian dollar. The discussion highlights market expectations, potential risks, and the role of the Australian dollar in monetary policy transmission.

What potential surprises could the RBA present to the markets according to the discussion?

Discuss the relationship between monetary policy and the exchange rate as mentioned in the text.