The program was extended several times: first, a further $ billion from April to September 2021 at a rate of $ billion a week; then, from September to November 2021 at a rate of $ billion a week; and finally, purchases of $ billion a week until mid-February 2022, at which point the program ceased.
All up, the BPP resulted in the purchase of $ billion of Australian, state and territory government bonds. Today, the Bank released its internal review of the BPP that was discussed by the Reserve Bank Board at its September meeting. [1] It is a fairly long document so I won’t go through it in detail – I highly recommend you read it though.