If the market concern is on the headline liquidity growth number of over 30 percent, my answer would be no. The BSP has always anticipated there will be some liquidity growth after the funds under SDA- IMA are “released”. That was, after all, the game plan.
The goal is to support the economy by keeping funding costs low and credit available, especially to small and mediumsized businesses. As banker to the Australian Government, the RBA has also processed the many billions of dollars in government assistance to households and businesses. We have also made sure that the payments system is working well and that banknote supply is maintained.