WPAC expect that the RBA will extend its QE program to a further $100 billion purchase in the six months following June next year.
In 2022 we expect the QE program will be reduced to two $50 billion tranches and the target rate on the three year bond rate will be gradually lifted through the year.
On the Australian dollar:
- forecasting AUD to USD0.80 over the course of 2021
- and there is a risk that the RBA will assess USD0.80 as being overvalued
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