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Fixed interest rates may have reached rock bottom, say economists – ABC News
If the Reserve Bank has no more three-year government bonds to buy by mid-2021, it may no longer be able to put downwards pressure on the benchmark yield for banks…
The metaphorical ‘shelf’ for three-year government bonds is almost empty, according to the National Australia Bank (NAB).
Key points:
- The Reserve Bank Of Australia has been buying up government bonds to maintain record-low interest rates
- According to the National Australia Bank, the RBA will own nearly all April 2024 bonds by the middle of this year
- Economists say this will make it unlikely that interest rates will move significantly lower from their current rate
In its latest monetary policy update,…
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