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MNI BRIEF: RBA Waits On Yield Control Decision

MNI (Sydney)
SYDNEY (MNI)

The Reserve Bank of Australia is paying "close attention to the flow of economic data" and will consider whether to extend its yield target to Australian government bonds maturing in November 2024 later in the year based on the outlook for inflation and employment, according to the minutes of its last board meeting released Tuesday.

The RBA left interest rates on hold at the historic low of 0.10% at the Apr 6 meeting and agreed to maintain other stimulus policies, such as the AUD200 million quantitative easing program and the yield target on bonds maturing in April 2024.

The minutes also show the RBA does not expect economic conditions to require an interest rate rise "until 2024 at the earliest."

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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