RBA likely to pare back emergency stimulus

The Reserve Bank of Australia (RBA) is expected to decide against rolling over its three-year yield target to the November 2024 bond from the current April 2024 at today’s meeting, an extension that would imply interest rates won’t go up until 2025.

SYDNEY: Australia’s central bank is likely to gently rein in some of its emergency stimulus to reflect the economy’s powerful recovery, even with almost half the nation back in lockdown due to an outbreak of the delta variant of Covid-19.

The Reserve Bank of Australia (RBA) is expected to decide against rolling over its three-year yield target to the November 2024 bond from the current April 2024 at today’s meeting, an extension that would imply interest rates won’t go up until 2025.