Seniors bankers have been singing the RBA’s praises, complimenting the robust design of their implemented measures and the speed with which they have implemented them.

As we have previously reported, the RBA introduced quantitative easing by targeting the yield of Australian bonds, an act which they successfully pulled off.

The RBA has managed to push three-year bonds from 60 basis points down to 25 basis points, despite State Governments issuing an additional $140 billion in bonds and notes. And the RBA only had to spend $50 billion of bonds to achieve this, something which has bond traders impressed.

The consensus seems to be that the RBA has handled the challenges presented by the coronavirus extremely well, and their response has left the Australian economy in a great place with a much faster recovery expected compared to other countries.

The relative strength of the Australian economy compared to other international markets will hopefully put us in a strong position over the coming months and even years, attracting international investors to further boost our markets.