Australia s central bank commits to keep 3-year yields low amid bond rout Selasa, 02 Maret 2021 / 13:54 WIB Sumber:
KONTAN.CO.ID -
SYDNEY. Australia s central bank on Tuesday affirmed its pledge to keep interest rates at historic lows as policymakers battle to stop surging bond yields disrupting the country s surprisingly strong economic recovery.
Concluding its March board meeting, the Reserve Bank of Australia (RBA) kept rates at 0.1% and committed to maintaining its highly supportive monetary conditions until its employment and inflation goals are met.
Global bond markets have sold off heavily in recent days on speculation the massive monetary stimulus will soon end as economies emerge from the pandemic-induced recession.
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European Union lenders have become increasingly dependent on their central banks’ ultra-cheap liquidity lines to fund themselves – a side-effect of the bloc’s response to the coronavirus crisis.
Across 23 EU countries included in a data series put together by the European Systemic Risk Board (ESRB), 5.3% of commercial banks’ liabilities were owed to central banks as of September 2020, up from 1.8% a year earlier.
The shift was most pronounced among those countries that had been hardest hit by
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