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MNI BRIEF: Australia Looks At November Re-Open From Lockdowns

MNI (Sydney)

The Reserve Bank of Australia has extended its bond buying programme, citing extended lockdowns.

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Australia is on course to ease lockdowns and open up its economy by mid-November, a prospect which concerns health experts but which plays into the Reserve Bank of Australia's view that the economy will rebound strongly in early 2022.

The most populous state of New South Wales is set to ease some restrictions in mid-October and the economy will open up when more than 70% of the population is double vaccinated, according to public health notices. Daily new case levels have continued to be a concern however, Currently 40.4% of the national population have been double vaccinated and 65.9% have had one jab.

Last week, the RBA noted the extended pandemic lockdowns are doing damage to the economic recovery, prompting an extension of its bond buying programme "until a least mid-February" next year as it left rates on hold at a record low 0.10%, see: MNI STATE OF PLAY: Lockdowns Force RBA To Extend QE.