Upbeat tone: Morning commuters walk past tents outside the Reserve Bank of Australia headquarters in Sydney. The bank thinks that economic activity, particularly household consumption, is recovering strongly. — Bloomberg
SYDNEY: The Reserve Bank of Australia (RBA) says tapering its bond-buying programme at the first meeting of 2022 and ending it in May is consistent with existing forecasts, as policy makers presented an upbeat view of the economy.
The RBA’s board discussed two other options for quantitative easing (QE): it could cease purchases in February if better-than-expected progress was made toward its employment and inflation goals, according to minutes of the Dec 7 meeting released yesterday. The third option was to taper in February and review again in May if progress was slower.
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