The winds of change in central bank policy
Monday 1st November 2021There were more big moves in Australian bond yields on Friday as the RBA failed to buy up the April 2024 bonds that were the focus of its yield curve control (YCC) policy. So does that mean YCC is dead? NAB’s Rodrigo Catril says, yes it is. It has become dysfunctional, given the force we have seen from markets pushing front end yields higher around the globe. It should make for an interesting RBA meeting tomorrow, with more to come from the Bank of England the Fed. All are expected to confirm a policy shift. Meanwhile, evidence of inflationary pressures continue to…
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