The Reserve Bank Board meets on May 4. That will be followed by the May Statement on Monetary Policy on May 7. Our central view is that the RBA will maintain current policy settings at the upcoming meeting.
We anticipate that the extension of the Yield Curve Control Policy (YCC) to target the November 2024 bonds from the April 2024 bonds; and a third QE program of $100 billion to begin in the first week of September, will come later in the year at the Board meeting on August 3.
However, in recent times, the meetings which have been linked to the Statements on Monetary Policy have incorporated policy initiatives. Of the two initiatives we expect to be announced in August, the one most likely to be brought forward to May would be the extension of YCC to the November 2024 bond. •
Following the Board meeting, markets willl closely watch Deputy Governor
Comments