Australia's central bank on Tuesday took a major step toward unwinding extraordinary pandemic stimulus policies by abandoning an ultra-low target for bond yields and opening the door for an earlier hike in cash rates.
Wrapping up its November policy meeting, the Reserve Bank of Australia kept the cash rate at a record low of 0.1% but dropped its 0.1% target for the April 2024 government bond.
"The Board is prepared to be patient, with the central forecast being for underlying inflation to be no higher than 2.5% at the end of 2023 and for only a gradual increase in wages growth," Governor Philip Lowe said in a brief statement. That is just part of a global sea change as surging energy costs and supply bottlenecks force central banks from Europe to North America to consider bringing forward tightening.
It is almost 11 years since the RBA last raised rates, setting them at what would now be an unbelievably high 4.75%. While the market has a series of hikes priced in, it does not see rates getting much above 1.75% in this cycle partly because households are far more indebted than in the past.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Opinion | Fed Complacency Feeds InflationFrom WSJopinion: The Fed lacks systematic guidelines for conducting monetary policy. Common sense suggests that the Fed should be normalizing interest rates, writes Mickey D. Levy.
続きを読む »
Covid-19 deaths pass five million worldwideVaccines have slowed the death rate, but officials warn of worrying rises in some countries.
続きを読む »
Ask a Teacher: My Daughter’s Teacher is Seriously Behind the TimesI’m so proud of my daughter for looking out for her classmate and recognizing his antiquated thinking.
続きを読む »
Digital currencies may not be a silver bullet for financial inclusionA Bank of International Settlements report found that stablecoins and central bank digital currencies could pose a number of risks in emerging markets and developing economies.
続きを読む »
Australians reunite as border reopens after 20-month banSydney’s international airport has come alive with tears, embraces and laughter as Australia’s border opened for the first time in 20 months
続きを読む »