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MNI BRIEF: Yield Targeting In Future Unlikely, RBA's Lowe

MNI (Sydney)
SYDNEY (MNI)

Reserve Bank of Australia Governor Philip Lowe has conceded that the central bank is not likely to use its yield target strategy in the future, rating the probability of doing so again “as low.”

In a speech to the American Chamber of Commerce in Australia, Lowe commented on a RBA report released Tuesday which concluded that the bank’s “disorderly” exit from its yield target program in November 2021 “caused some reputational damage to the bank.”

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Reserve Bank of Australia Governor Philip Lowe has conceded that the central bank is not likely to use its yield target strategy in the future, rating the probability of doing so again “as low.”

In a speech to the American Chamber of Commerce in Australia, Lowe commented on a RBA report released Tuesday which concluded that the bank’s “disorderly” exit from its yield target program in November 2021 “caused some reputational damage to the bank.”

Keep reading...Show less