Forex, video, latest June 11, 2021 3:01 am
AUD/USD up 26 points to 0.7757 today
Bank of America Global Research discusses a RBA policy trajectory.
“a RBA become update policy guidance at a 6 July Board meeting.
Governor Lowe become hold a press conference, as was a case when yield
curve control was unveiled last March also quantitative easing (QE) was
introduced inside November. So this is a formal change of direction. It seems almost certain a 3-year yield target become not become extended beyond Apr-2024, but a RBA now looks likely to adopt a more flexible also data-dependent approach to extending QE,” BofA notes.
“Considerable stimulus become likely remain inside place. A
more open-ended third round to QE is more likely to commence at a
current pace of AUD5bn per week where RBA purchases would reach AUD60bn
after 3 months. An extension of QE would help to keep net ACGB supply
negative inside a new fiscal year also help to temper 10yr swap spread
tightening,” BofA adds.
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