Business
Interest rate jump tests RBA – The Australian Financial Review
Companies and governments face rising borrowing costs as the Reserve Bank fails to suppress bond yields and the strong Australian dollar, despite the central bank’s…
The RBA failed to tamp down higher borrowing costs through an aggressive $3 billion purchase of three-year government bonds in the secondary market on Thursday triple the amount it bought on Monday and the most since the bond market turbulence during the COVID-19 panic last March.
The RBA had been unsuccessful in dampening bond yields at the short and long end of the curve and the RBNZs move had made the RBAs task more difficult, said ANZ economist David Plank.
There is upward pressure on market…
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