At its meeting today, the Board decided to: retain the April 2024 bond as the bond for the yield target and retain the target of 10 basis points continue purchasing government bonds after the completion of the current bond purchase program in early September. These purchases will be at the rate of $4 billion a week until at least mid November maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent. These measures will provide the continuing monetary support that the economy needs as it transitions from the recovery phase to the expansion phase. The Board ... (full story)

AUD/USD wobbles around intraday/weekly high as RBA keeps monetary policy intact, hints QE extension. DXY ignores Treasury yiled rebound to print three-day downtrend. Covid woes stay intact, Epsilon adds to the virus-led pessimism. RBA’s Lowe needs to justify the latest moves to defend the bulls. AUD/USD pays a little heed to widely anticipated RBA inaction, despite easing from the recent top to 0.7560, up 0.46% intraday, during early Tuesday. In doing so, the Aussie pair cheers broad US dollar weakness. The Reserve Bank of Australia (RBA) poured cold water on the face of expectations that the Aussie central bank will ... (full story)