At its meeting today, the Board decided to maintain the targets of 10 basis points for the cash rate and the yield on the 3-year Australian Government bond, as well as the parameters of the Term Funding Facility. It also decided to purchase an additional $100 billion of bonds issued by the Australian Government and states and territories when the current bond purchase program is completed in mid April. These additional purchases will be at the current rate of $5 billion a week. The outlook for the global economy has improved over recent months due to the development of vaccines. While the path ahead is likely to ... (full story)

The Reserve Bank board has held official interest rates at a record low 0.1 per cent at its first meeting of the year while revealing plans to create another $100 billion to buy government debt. Governor Philip Lowe, who will make his first-ever address to the National Press Club in Canberra on Wednesday to outline the bank’s expectations for the economy, confirmed on Tuesday afternoon there would be no change in the RBA’s key policy setting this month. The RBA cut the cash rate to 0.1 per cent in November while embarking on a quantitative easing program that included the purchase of $100 billion of government bonds ... (full story)