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The Reserve Bank of Australia declined to defend its 0.1% yield target for the April 2024 bond, which rose to 0.75%. Yields on three-year bonds posted their biggest monthly increase since 1994.
Investors expected the RBA to drop yield curve control at its November 2 meeting.
Abandoning the yield target would signal earlier Australian rate rises, which tends to support the Australian dollar and reduce the appeal of commodity-linked currencies that feed-importing markets track.
cnbc.comReutersOct 29, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
