“The RBA board kept the official cash rate at a record low 0.1 per cent at its first board meeting of the year on Tuesday and terminated its $350 billion pandemic bond buying program, citing significant improvements in the jobless rate and the broader strength of the economy.”
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“The central bank also revised up its inflation forecasts following a surprisingly strong December quarter. It now expects underlying inflation to peak at 3.25 per cent later this year before moderating in 2023.”
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“But despite currently being at the mid-point of the RBA’s 2 to 3 per cent target band and set to push higher for the first time in almost a decade, central bank governor Philip Lowe said the conditions for rate rises were not yet in place.”
Source: 7NEWS Australia
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https://www.afr.com/policy/economy/rba-ends-bond-buying-upgrades-forecasts-20220201-p59stp
