Stephen Halmarick, chief economist at the Commonwealth Bank of Australia (CBA), predicts that the Reserve Bank of Australia will announce a more accommodative monetary policy at its board meeting next Tuesday, setting the cash rate, three-year bond target yield and long-term financing facility (TFF) targets The interest rate was reduced from 0.25% to 0.1%.
Previously, Bank of Australia Governor Philip Lowe had hinted that as the Australian economy gradually recovered, the Bank of Australia would implement further loose monetary policy. Halmarick said that there are signs that the Reserve Bank of Australia will continue to advance the “traditional non-traditional monetary policy space”, and a rate cut at the beginning of next month is almost a certainty.
