# Australia's central bank loses yield control as bonds melt down

> 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.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/44812-australia-s-central-bank-loses-yield-control-as-bonds-melt-down
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2021/10/29/australias-central-bank-loses-yield-control-as-bonds-melt-down.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.