- RBA certain to end its QE program in February
- focus will be on how its central scenario for interest rates changes (Q4 CPI will have an impact)
And, its not just an end to bond-buying:
- As well as ending QE in February, we think the RBA will signal it will start 'QT' as soon as the bonds it owns start to mature. That is, it will start to shrink its balance sheet by not reinvesting the proceeds of bond maturities.
Note, Q4 CPI is due on 25 January, 0030GMT.