The Reserve Bank of Australia (RBA) pushed ahead with a cautious winding back of its bond-buying programme, underlining its confidence in the economy’s recovery prospects once a longer-than-expected virus wave abates. Governor Philip Lowe and his board said they will purchase government securities at a pace of A$4bn ($3bn) a week, down from A$5bn previously, until at least mid-February. The central bank had originally planned to review the programme in mid-November but said an extension was necessary due to a delay in the economic recovery and increased uncertainty stemming from the outbreak of the Delta variant of Covid-19. Ten of 16 economists had expected the central bank to hold off ta
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