Reserve Bank of Australia

Friday, 14 January 2022

Australian rates sell off could be premature if RBA sticks to its guns

Australian strategists and traders believe the Reserve Bank of Australia is unlikely to change its monetary-policy plans in response to a more aggressive US Federal Reserve, despite rising yields over the last month. The divergent central-bank paths could lead to more volatile markets, however.

Monday, 01 November 2021

RBA submits on YCC but keeps rate-hike expectations beyond analyst consensus

GPT Funds Management’s first green bond engaged new investors, with its 10-year tenor and use-of-proceeds format attracting a A$350 million orderbook from 35 accounts. With A$6.4 billion of eligible green assets, the firm says it has scope for future issuance.

Saturday, 30 October 2021
Oct/Nov 2021

Knock-on effects

The Australian Prudential Regulation Authority’s decision to reduce the size of the committed liquidity facility to zero by the end of next year may not be entirely surprising but it has ramifications across the local fixed-income market. The most obvious are on the demand side, but a closer examination of the decision’s implications also reveals likely consequences for supply dynamics.

Sunday, 18 July 2021
Jun/Jul 2021

Australian housing takes off… again

Australian house prices have once again defied expectations, this time from the early stages of the COVID-19 pandemic, by resuming a seemingly unstoppable upward trajectory. While the Reserve Bank of Australia continues to insist rate hikes are not coming in the medium term, speculation is mounting about macroprudential intervention and financial-stability risk.

Tuesday, 06 July 2021

RBA bond purchases to support economy into expansion phase

The Reserve Bank of Australia has revealed the next phase of its QE programme, which includes a slight tapering of volume and additional flexibility. The central bank continues to believe extraordinary monetary support is needed given weak inflation outcomes even as the Australian economy expands.

Tuesday, 27 April 2021
Apr/May 2021

The IBOR clock keeps ticking

Updates in early 2021 confirm that there will be no reprieve for the international IBOR complex and only a temporary stay of execution for some specific rates. Market participants say Australasia – where rates based on bank bills will continue to exist, at least for the time being – is still insufficiently engaged with the transition process, including in the context of all-important cross-currency swaps.

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