The full statement by the Reserve Bank of Australia At its meeting today, the Board reaffirmed the targets for the cash rate and the yield on 3-year Australian government bonds of 25 basis points, as well as the other elements of the package announced on 19 March 2020.
Blogs
RBA announces no change to cash rate at 0.25%
RBA announces their latest monetary policy decision – 7 April 2020 – 0.25% ForexLive The RBA is maintaining that their current policy stance is enough for now to ensure a recovery in the economy, when paired with the fiscal response set out by the government.
RBNZ will extend its asset purchasing program. QE to NZD 33bn total now.
Reserve Bank of New Zealand statement (bolding above is mine) RBNZ cite: Full statement here RBNZ's MPC to revisit the program on May 13.
PBOC sets USD/ CNY mid-point today at 7.0939
People's Bank of China Skips OMOs today. – 70bn yuan in RRs mature, thus a net drain of that amount ForexLive
RBA meeting today – preview
Earlier what to expects on the Reserve Bank of Australia are here: Via TD: TD's base case is for unchanged at this meeting, further comments: – W ForexLive
RBA monetary policy meeting Tuesday 7 April 2020 – preview
The Reserve Bank of Australia last met on March 18 at an emergency (they said it was a 'special') meeting. At which they cut another 25bps out of the cash rate and introduced QE to Australia.
RBA explainer on the difference between conventional and unconventional monetary policy
The Reserve Bank of Australia have released an 'explainer' on their QE policy. if you are interested. Here is the link (ps. Its RBA policy meeting day, 'll have more to come on this separately)
RBA not likely to shift the playbook in today's decision
The RBA decision is at 0430 GMT None of the 22 economists surveyed by Bloomberg expect to see a move in the RBA cash rate target of 0.25%. Here is what RBC has to say:
Fed establishes term funding facility for small-business lending program
The Fed will buy SPB loans from banks I wrote about a report saying this was coming earlier. Now it's official. Here's the : statement To facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program (PPP), the Federal Reserve will establish a facility to provide term financing backed by P
Fed preparing to purchases new small business payroll loans – WSJ
Breaking report The WSJ reports: The Federal Reserve and Treasury Department are planning to launch a new program to buy loans that financial firms make through the government's emergency small-business lending program, according to people familiar with the matter. The Fed buying the loans would free up banks balance sheets to originate more l