Business
Behind the Reserve Bank’s big bond losses – The Australian Financial Review
If the Reserve Bank was running a bond fund on behalf of taxpayers, it wouldn’t be winning any awards. Just as well it’s not in the trading game.
Usually when a central bank enters the bond market in a big way, it drives up bond prices, in turn lowering bond yields. This time the opposite has happened.
Central bank bond buying, or quantitative easing, is a vexed issue: while policymakers insist its needed to support the economy, theres no shortage of denouncers who blame it for its distortive effects on asset prices.
RBA losses fairly modest
Now, some commentators have raised concerns that the RBA will be hamstrung by its paper losses, curtailing…
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