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Wayne Cole
3 minute read
Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. REUTERS/Daniel Munoz
SYDNEY, July 20 (Reuters) - Australia s central bank was counting on the economy to keep surprising with its strength when trimming stimulus earlier this month, but might now be forced to reconsider as coronavirus lockdowns spread across the country.
Minutes of its July 6 policy meeting, showed the Reserve Bank of Australia (RBA) policy Board considered economic outcomes had been materially better than expected, particularly in the labour market.
As a result, it decided that from September it would reduce the amount of bonds it was buying every week to A$4 billion ($2.94 billion), from the current pace of A$5 billion.