Oz Blog News Commentary

Reserve Bank Maintains Monetary Policy Settings

July 6, 2021 - 14:52 -- Admin

At its latest meeting, the Reserve Bank of Australia board has maintained existing monetary policy settings.

Meeting, as usual, on the first Tuesday of the month, 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.

The media release from Governor Philip Lowe is shown below.