Free Trial

Minutes Reveal No Shocks Re: ACGB Nov '24 & 3-Year Yield Targeting Matters

RBA

"The Board remains committed to the 3-year Australian Government bond yield target of 10 basis points. The Bank had not purchased bonds in support of the 3-year yield target since late February. Later in the year, members would need to consider whether to maintain the April 2024 bond as the target bond or shift the focus of the yield target to the November 2024 bond. If the Board were to maintain the April 2024 bond as the target bond, rather than move to the next bond, the maturity of the yield target would gradually decline until the bond matured in April 2024. In considering this issue, members would give close attention to the flow of economic data and the outlook for inflation and employment."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.