NAB – The Morning Call · RBA buys up ahead of today’s meeting

RBA buys up ahead of today’s meeting

Tuesday 2nd March 2020

The RBA might have left itself with very little to say today, having upped their bond buying in response to the sharp rise in yields last week. With bond yields still significantly higher than they were at the beginning of the year Phil Dobbie asks NAB’s Tapas Strickland what else the RBA can do as the Aussie economy finds itself in a better position than most developed nations. The return to normal overnight, with equities back on the rise, has been partially fuelled by stronger than anticipated ISM manufacturing numbers for the US. In fact, most data lately have been on the upside. The Euro is one of the weaker currencies today, perhaps because of an expectation that the ECB too will increase their bond-buying.

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