4. Why did the RBA suddenly end Quantitative Easing? Would it not have been better to raise interest rates while maintaining accommodative Quantitative measures designed at rebuilding Australia’s economy?
Question Number: 90 PDR Number: AET090 Date Submitted: 17/02/2022 Department or Body: Treasury The end of the bond purchase program was not sudden. In December 2021, the Reserve Bank Board announced that it would consider the future of the bond purchase program in February 2022, with the decision to be based on the same three […]
Senator RENNICK: This is a very quick one. Does ASIC require gold dealers and custodians of gold to comply with financial disclosure laws, such as product disclosure statements et cetera, when investors put their gold bars with gold dealers? Mr Longo: I might ask Commissioner Armour to have a go at that question. I’m not quite sure of the extent of ASIC’s jurisdiction over gold bars at this point in time. I will go to Commissioner Armour.Ms Armour: My initial reaction is that I believe that a gold bar is likely to be a commodity and not necessarily a financial product, so may not be in our jurisdiction. I would be happy to go back and double-check that for you. Senator RENNICK: A lot of super funds now are investing in gold bars. I would have thought it would be classified as a financial instrument. I will leave it at that.
Question Number: 38 PDR Number: AET038 Date Submitted: 17/02/2022 Department or Body: Treasury Gold bars are not considered a financial product under the Corporations Act 2001.
