The Aussie Debrief November 2020
By
Su-Lin Ong
Published November 3, 2020
|
5 min watch
A regular video series focused on the Australian economy
In this edition of the Aussie Debrief, Su-Lin Ong, Managing Director, Chief Economist & Senior Relationship Manager, RBC Capital Markets and Rob Thompson, Macro Rates Strategist, RBC Capital Markets discuss the Reserve Bank of Australia’s (RBA) latest policy measures.
A cut to 10bp to the overnight rate, 3y yield target and Term Funding Facility (TFF) rate.
An open ended QE program of A$100bn over the next 6 months including semis as the RBA quietly moves to help lower borrowing costs for governments.
A cut in the Exchange Settlement Account (ESA) rate to 0bp from 10bp will drag a number of short rates towards zero with the risk of negative short term rates.
Su-Lin and Rob extend the take profit targets on their flatteners and semi-bond tightener.
This video is part of our regular economic series The Aussie Debrief, with ad hoc reports brought to you as current.
Su-Lin Ong
Managing Director, Chief Economist & Senior Relationship Manager, RBC Capital Markets
Su-Lin Ong is a Managing Director of RBC Capital Markets, Chief Economist & Senior Relationship Manager. She has led the Economics & Fixed Income Strategy team for Australia and New Zealand since 2010 and was Head of Australian research between 2015 and 2019.
Su-Lin is part of RBC’s global strategy team with responsibility for formulating and presenting the Australian macroeconomic outlook, cash rate view and bond yield forecasts. Prior to joining RBC in 1998, Su-Lin was a fixed income economist for Hambros Bank and before that worked as an economist at the Department of Prime Minister and Cabinet in Canberra. She holds a Bachelor of Economics from University of Sydney, post graduate in Applied Finance and Investment from the Securities Institute of Australia, is a Fellow of FINSIA, and graduate of the Australian Institute of Company Directors. She sits on the boards of Women in Banking & Finance and The Australian Business Economists.
AustraliaEconomyMacroRBARates
