Central Banks


Reserve Bank of Australia  November policy meeting minutes

  •  board prepared to do more if needed, policy focused on bond buying
  • outlook dependent on
    successful containment of the coronavirus
  • not sensible to cut
    rates further, negative rates extraordinarily unlikely
  • board does not
    expect to raise rates for at least three years
  • no hike until actual
    inflation sustainably within 2-3% target band
  • need wage growth to
    be materially higher, significant gains in employment
  • monetary and fiscal
    support to be required for some time
  • easing now would
    have greater impact given recent fiscal stimulus
  • low rates a global
    phenomenon, affect exchange rates and asset prices
  • near-term economic
    outlook had improved a little in Australia
  • global outlook
    uncertain given surge of new cases, European lockdowns

Headlines via Reuters 

  

All very cautious from the RBA. AUD not caring, cracking to a new high for the session. NZD bolting to its highest since March of 2019. 

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