Business
‘Aggressive’ RBA to shrink the bond market by $1.5ba week – The Australian Financial Review
The Reserve Bank is already buying bonds at a faster pace than the government is selling them. The gap will widen to shrink the bond market by $1.5 billion a week….
In November the Reserve Bank had committed to buy $5 billion of state and government bonds a week until mid-April. Of that, $4 billion was in the form of government bonds.
That quantum is larger than the $3 billion issued by the governments debt agency to meet its $230 billion funding target for the fiscal year. The target is expected to be materially lower in the 2022 fiscal year, further reducing the pace of debt issuance.
The amount of issuance in the next fiscal year is diminishing so the $100…
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