Business
RBA delivers $100 billion wake-up call on the state of the economy – Sydney Morning Herald
This week, Scott Morrison made clear the government’s long-term plan to keep a lid on spending. A day later, the RBA revealed plans to create another $100 billion….
The extra $100 billion, to buy bonds sold by federal and state governments until at least September, is on top of the RBAs existing $100 billion bond buying program ($52 billion of which it has spent in recent months), almost $200 billion in cheap money it is offering commercial banks and the record low cash rate of 0.1 per cent.
It is an incredible amount of support for the economy from the RBA. By years end, it will be close to 30 per cent of GDP.
One of the RBAs key jobs is to get inflation between…
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