When multiplying or dividing values, the sign of the answer is positive when the signs of the values are the same, and it’s negative when the signs are different. In this case the signs are both negative—the same—so the answer is positive.
When multiplying decimals we count how many digits there are after the decimal point. For each value in this case there is one digit. Add these counts together and we get 2, the number of digits after the decimal point in the product. 1×3=3. But we need 2 digits after the decimal point so we need to insert a zero so that 3 is in the right decimal place: 0.03. Now we have 2 digits after the decimal point and we know this result has to be positive so the answer is 0.03. The zero before the decimal point is optional, but it’s common practice to “protect” the decimal point by putting a zero in front of it if we are writing a decimal fraction. .03 is likely to be misread, but 0.03 isn’t.