February 2021

February 2021

February 2, 2021

The Reserve Bank of Australia (RBA) announced today that it will purchase another A$100B of Commonwealth bonds and semis, after the current bond purchase program expires in April.

At the same time, the RBA left its other monetary policy settings unchanged, including the cash rate target and the 3-year yield target as well as the parameters of the Term Funding Facility.

The RBA Governor strengthened the forward guidance on the cash rate outlook in the post-meeting statement, stressing that the Board expect that the conditions for an interest rate hike will most probably not be met until 2024 at the earliest.

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