Reserve Bank of Australia forecasts coming in droves today:

ANZ now, expect the RBA will announce shifting to flexible QE, no set total & begins a weekly amount of AUD5bn to be reassessed prior to the end of the year.

  • We are changing our call on quantitative easing.
  • We now expect the RBA to announce a shift to 'flexible' QE.
  • we think the market will view this as a soft taper
  • we still expect the yield target to remain fixed on the April 24 bond tether than be expended to the November 24 bond.