In this scenario, it is highly unlikely that the cash rate will be raised over that time horizon. This aligns with the target for the three-year bond yield of around 25 basis points. To summarise, the bond purchases and the TFF funding have resulted in a large expansion in the RBA balance sheet.
4  Current assessment of economic development  Forecasting risk and uncertainty is currently of particular interest to central bankers, as forecast uncertainty has reached a comparatively high level. Because the scale and speed of the current economic downturn is unlike anything seen in the last few decades, forecast uncertainty can at present be incorporated into econometric analyses to a limited extent only.