Details On QE Decision, Reinvestment To Be Considered In May

"The decision to end purchases under the bond purchase program follows a review of the actions of other central banks, the functioning of Australia's bond market and the progress towards the goals of full employment and inflation consistent with target. Many other central banks have ended, or will soon end, their bond purchase programs. More importantly, faster-than-expected progress has been made towards the RBA's goals and further progress is likely. In these circumstances, the Board judged that now was the right time to end the bond purchase program. Since the start of the pandemic, the RBA's balance sheet has more than tripled to around $640 billion, with this expansion providing continuing support to the economy. The Board will consider the issue of the reinvestment of the proceeds of future bond maturities at its meeting in May."