Is the RBA preparing quantitative easing?

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From a reader today who notes the following on RBA minutes:

“Members had a detailed discussion of the Bank’s operations in repurchase and foreign exchange swap markets and their role in achieving the Board’s target for the cash rate.”

Up until yesterday, when quizzed on this RBA, has been reluctant to intervene to reduce these rates so as not to encourage leverage, and stated that these are market forces.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.