Australia c.bank to buy up to $2.4 bln in govt bonds as part of QEReuters | Sydney | Updated: 24-03-2020 05:54 IST | Created: 24-03-2020 05:54 IST
The Reserve Bank of Australia (RBA) proposed on Tuesday to buy A$4 billion ($2.35 billion) in government bonds as part of its quantitative easing (QE) programme to keep short-term yields around the cash rate of 0.25%.
The RBA will buy bonds maturing in December 2021, July 2022, April 2026 and November 2028, it said.
The RBA has purchased A$9 billion in Australian government bonds since it launched QE on March 20 in a bid to ensure credit was cheap and freely available across the economy as the hit from the coronavirus pandemic deepens. ($1 = 1.7013 Australian dollars)