The movements in these commodity prices stand in contrast to the large decline in the oil price, which will flow through to LNG prices (Graph 5). https://www.rba.gov.au/speeches/2020/sp-dg-2020-03-11.html  5/12  11/03/2020  The Virus and the Australian Economy | Speeches | RBA  Graph 5  I will now summarise recent developments in financial markets.
There has been a large increase in risk aversion and uncertainty. The virus is going to have a material economic impact but it is not clear how large that will be. That makes it difficult for the market to reprice financial assets. Policy interest rates have been reduced in some countries, including Australia, and further reductions are expected where that is possible.