The RBA splashed out on bond-buying today, double the usual amount. Ball now in other central bank courts.

Here is the news from earlier, the Reserve Bank of Australia very aggressive today, moving well beyond a usual YCC operating with their large buying:

• RBA in buying long-dated Australian government bonds, double the usual amount

This was a meaningful intervention from the RBA, a very aggressive move meant to indicate its lack of patience with those looking for higher yields. A question that pops up is whether other central banks will do something similar ion the days ahead.

Despite the action from the RBA the Australian dollar has changed very little since, although it did rally 50+ p[points in the morning ahead of the RBA buying.