Economists expect RBA to ease stimulus afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
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By Gareth Aird, head of Australian economics at CBA
Key Points
At the July Board meeting the RBA will announce a decision on yield curve control and the bond buying program.
We expect the RBA to maintain the April 24 bond as the target bond for yield curve control (i.e. not shift to the Nov 24 bond).
We expect the RBA to announce that it will taper its bond buying program when the second $A100bn of bond purchases is completed in early September.
We have pencilled in an announcement of a further $A50bn of bond buying over six months, but there is considerable uncertainty over this and the RBA may adopt a more flexible approach to tapering.
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SYDNEY, June 30 (Reuters) - The Australian and New Zealand dollars were under pressure on Wednesday as the spread of the highly infectious Delta variant of COVID-19 challenged confidence in economic recoveries both at home and globally.
The Aussie lay at $0.7519, having fallen 0.7% overnight to erase four days of gains. The failure at resistance around $0.7616 and the retreat under the 200-day moving average at $0.7564, risks a test of the June trough of $0.7478.
The kiwi faded to $0.6995, after also losing 0.7% to as low as $0.6980. That took it well away from last week’s rally top at $0.7095 and puts the focus back on the June low of $0.6923.
Is now the right time to lock in record-low rates? smartpropertyinvestment.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smartpropertyinvestment.com.au Daily Mail and Mail on Sunday newspapers.
It’s not yet time for wage-earners to pop the champagne. But there is potentially good news on pay lurking beneath the recent excitement about interest rates.