RBA boosts bond-buying to defend yield curve target
Governor says the central bank can increase purchases further if needed
The Reserve Bank of Australia has boosted its purchases of government debt to defend its yield curve control target.
The central bank left its policy settings unchanged at its monetary policy meeting on March 2, but governor Philip Lowe said the RBA “brought forward” purchases to keep three-year yields at 0.1%. The short-term policy rate is also at 0.1%.
“The bank is prepared to make further adjustments to its purchases in response to market conditions,” Lowe said in a statement.
The RBA has
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