Statement by Philip Lowe, Governor: Monetary Policy Decision

Media Release Number 2021-13: At its meeting today, the Board decided to retain the April 2024 bond as the bond for the yield target and retain the target of 10 basis points; continue purchasing government bonds after the completion of the current bond purchase program in early September (These purchases will be at the rate of $4 billion a week until at least mid November); and maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent.