October 2020

October 2020

November 9, 2020

At its November meeting, the RBA Board reduced its cash rate and 3-year yield targets to 0.10% from 0.25%, and announced that over the next six months it would purchase A$100B of Australian government bonds, including semis. Western Australian dwelling approvals grew by 42.6% in September, while new housing loan commitments surged by 24.7%. Western Australian employment rose by 2.9k in September, while the unemployment rate fell to 6.7%, the lowest of all Australian states. Western Australia exported A$45.1 billion of goods in the three months to August.

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