19 July 2021
As the Reserve Bank of Australia (RBA) vows to hold off extending bond yields beyond 0.10% after April 2024, any changes to cash rate will be data dependent.
At its July meeting, the central bank said it would not be extending yield curve control measures beyond April 2024.
But Stephen Cooper, head of Australian and New Zealand fixed income at First Sentier Investors, said an earlier move could not be ruled out, however, as it would depend on data.
The in yields had mostly been driven by offshore developments as many believed the recent high US inflation was transitory rather than permanent combined with speculation that the US Federal Reserve would look to move on rates earlier than expected.
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