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Rates remain on hold but tighter credit conditions loom

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With the cash rate likely to remain on hold for an extended period of time, attention is more focussed on other elements of the RBA’s monetary policy settings and their perspective on the economy, including housing market conditions.

The RBA has been unwavering on their position for the cash rate and three year Australian government bond yield target (both set at 0.1%), the Term Funding Facility continues to ensure low cost credit is available for lending to businesses and households and the QE program, which was extended last month by a further $100 billion, is also supporting an expectation that funding costs will remain low, at least over the short-to-medium-term.   Arguably, the coming months will be a critical assessment period…



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