Reserve Bank of Australia forecasts coming in droves today:
- NAB forecasts the RBA will not roll its YCC forward to November 2024
- Westpac forecasts the RBA will change to a flexible QE regime
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.