More Australian analysts change their RBA forecasts, ANZ say the Bank to move to 'flexible' QE

Reserve Bank of Australia forecasts coming in droves today:

• NAB forecasts the RBA will not roll its YCC forward to November 2024
• Westpac forecasts the RBA will change to a flexible QE regime

ANZ now, expect the RBA will announce shifting to flexible QE, no set total & begins a weekly amount of AUD5bn to be reassessed prior to the end of the year.

• We are changing our call on quantitative easing.
• We now expect the RBA to announce a shift to 'flexible' QE.
• we think the market will view this as a soft taper
• we still expect the yield target to remain fixed on the April 24 bond tether than be expended to the November 24 bond.