Reserve Bank of Australia

Friday, 23 February 2024
Feb/Mar 2024

LGFA left out in the cold after RBA repo eligibility u-turn

New Zealand Local Government Funding Agency is confident about its ongoing Australian dollar issuance prospects despite expressing disappointment at the Reserve Bank of Australia process that saw the issuer initially granted repo eligibility before having that status withdrawn. The issuer believes the outcome highlights anomalies in the expanded list of assets eligible for repo in Australia but will not take its claims further.

Wednesday, 17 January 2024
Dec/Jan 2023/2024

Solid foundations for an uncertain future

The 2023 Commonwealth Bank of Australia Global Markets Conference brought international investors to Australia at a fascinating juncture for the local economy and the fixed-income asset class. While the general view remains that the central bank hiking cycle is close to played out, the market is also coming to terms with the real consequences of a higher for longer environment. Australia is not fully insulated against cold global winds but it also has reasons for optimism.

Wednesday, 17 January 2024
Dec/Jan 2023/2024

Securitisation builds an audience for its diversity story

The Australian Securitisation Forum’s 2023 annual conference attracted a record number of delegates – well over a thousand attended – and offered its most wide-ranging agenda ever. The securitisation industry has navigated higher rates and increasing global uncertainty well to date, with record volume printing in 2023 and a notable uptick in collateral diversity. The road ahead may be tricky but the market is facing it with confidence.

Wednesday, 10 January 2024

2023 year in review: Australian securitisation defies gravity to register a record volume year

The Australian securitisation market enjoyed a rebound year in 2023, printing record volume including an unprecedented level of collateral diversity and a notable uptick in bank issuance. It is not all plain sailing in the nonbank lender space, but origination conditions and the funding side appear to be improving.

Tuesday, 24 October 2023

No deviation from inflation focus, new RBA governor confirms

The new governor of the Reserve Bank of Australia, Michele Bullock, has used her first public speech in the role to affirm its laser focus on inflation – noting that the other aspects of the bank’s mandate may be subordinate to, or have complementary outcomes with, inflation direction. Analaysts and markets largely view the central bank’s November cash rate decision as a line-ball call with the 25 October CPI print for Q3 likely to be a key input.

Thursday, 12 October 2023

RBA confident hikes are doing their job though transmission channels vary

The Reserve Bank of Australia appears to be comfortable that rate hikes are transmitting more or less normally through the economy despite some abnormalities – such as the relatively higher proportion of fixed-rate mortgages going into the hiking cycle. While some lags remain in place, the suggestion is that the reserve bank is not expecting these to do much additional tightening work for it.

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