The central bank left its cash rate at a record low 0.1%, but surprised by extending its bond-buying scheme by another A$100 billion ($76.01 billion) from mid-April.
The RBA will be buying bonds at a faster pace than the government is selling them, while also expanding its balance sheet more quickly than the US Federal Reserve.
Westpac on Thursday ditched its call for two more rate cuts from the Reserve Bank of New Zealand (RBNZ) and forecast rates would be held at 0.25% for the foreseeable future.
The news took a toll on safe haven bonds with Australian 10-year futures falling 6 ticks to 98.9600, implying a yield of 1.04% and back toward a recent low at 98.9200.
"Broad positioning is short sterling, but not at extremes by any means. This limits the prospect we get an exaggerated short-covering rally to say $1.3800 or $1.4000."