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In the last 2-3 months, central banks have transitioned to their most dovish stances on record. Gone is the muted central bank language; instead, they are using strong language to communicate the depth of the damage caused by lockdowns. Inflation is a non-issue; banks are instead flooding the markets with currency while also supporting credit markets. Don't expect this to change anytime soon.
There were several key central bank announcements this week, which I'll take in chronological order.
The RBA released the latest meeting minutes. They reported a very sharp contraction in economic activity.