Economics

Australia Central Bank Seen Holding After Success of QE Drive

  • Debelle: yields, FX would be higher without the extra stimulus
  • Lowe gives testimony, GDP released day after RBA meeting
Photographer: David Gray/Bloomberg
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A month into the Reserve Bank of Australia’s A$100 billion ($73.6 billion) bond-buying program, it looks to be doing its job by driving bond yields lower and keeping a lid on currency appreciation

The RBA will leave the cash rate and the three-year yield goal at 0.10% at Tuesday’s meeting in Sydney, as unanimously predicted by economistsBloomberg Terminal. The quantitative easing program that Governor Philip Lowe and his board unveiled on Nov. 3, has seen A$15 billion worth of bonds purchased in an attempt to lower borrowing costs across the economy.