Financial Performance and Remediation Update
LOW RATES TO PERSIST IN THE NEAR-TERM BUT BEGIN NORMALISING
THE CASH RATE TO REMAIN ON HOLD UNTIL 20231
(%)
2.0
Cash Rate Target
-Overnight Cash Rate
3-year AGS
-5-year AGS
10-year AGS
THOUGH BOND PURCHASES WILL TAPER²
($B)
600
500
1.5
RBA Assets
400
1.0
300
200
0.5
100
0.0
0
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21 Sep 21
2005 2007 2009
2011 2013 2015 2017 2019
2021
INFLATION LIKELY TO RISE IN THE NEAR TERM³
(%)
(%)
Forecasts
4.5
4.0
4.0
3.5
3.0
WAGE GROWTH A KEY DETERMINANT FOR INFLATION4
3.0
л
muy
Forecasts
2.5
Quarterly
2.0
Quarterly
Year-ended
2.0
-Year-ended
1.5
1.0
1.0
0.5
0.0
2001
2005
2009
2013
2017
2021
0.0
1997
2000
2003 2006
2009 2012 2015 2018
2021
ངོ
Source: Macrobond. Data to 2 November 2021
(2) Source: Source: RBA, NAB. Data to 11 October 2021. Total Assets on the RBA's Balance Sheet
(3) Source: ABS, NAB. Average of the trimmed-mean and weighted-median CPI measures, data to September quarter 2021, NAB forecasts thereafter
Source: ABS, NAB. Data to June quarter 2021, NAB forecasts thereafter
(4)
119
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Australia
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