The Chief Economist at Westpac has a piece out on the "Next steps for the RBA".
Its not strictly a preview of the meeting coming up on Tuesday February 2 (statement due at 2.30pm Sydney time, which is 0330GMT). Note also:
- Following the meeting Reserve Bank of Australia Governor Lowe will speak on Wednesday, February 3
- And on Friday, February 5, we'll get the quarterly Statement on Monetary Policy
In summary from the WPAC piece:
- The policies that are up for consideration for the RBA will be the Quantitative Easing Policy (QE) - the $100 billion program is set to be completed in early May; the Term Funding Facility (TFF) -drawdowns on that facility are set to expire on June 30;and the yield curve control initiative that has no "expiry" date.
- With the recent faster than expected improvement in the labour market markets are reassessing the outlook for policy. We continue to expect QE to be extended at $100 billion and YCC to remain in place in 2021 although TFF may be reshaped.
RBA Gov. Lowe