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Australia's Reserve Bank signals the end of ultra-cheap money. Here's what it will mean

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Australia's Reserve Bank signals the end of ultra-cheap money. Here's what it will meanRobb1037/Shutterstock

The Reserve Bank of Australia had a Cup Day surprise in store for the country, announcing it was abandoning its policy of “yield curve control”, meaning it was no longer going to defend any particular interest rate for borrowing over any particular duration.

Until today it had a formal target for the three-year bond...

Read more: Australia's Reserve Bank signals the end of ultra-cheap money. Here's what it will mean

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