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Knee-Jerk Lower On RBA Taper Quickly Unwound


Futures knee-jerked lower on the RBA's decision to maintain its decision to implement a taper of its bond purchases in the coming days, but recovered on the fact that the guaranteed life of the previously outlined A$4bn/week bond purchases now runs until February '22 (it was previously set to be revisited in mid-November), with the Bank pointing to an increase in economic uncertainty and suggesting that pace of the economic bounce-back and it is likely to be slower than that earlier in the year. That leaves YM & XM 0.5 below yesterday's settlement levels.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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