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RBA purchasing $2.3 billion of government bonds

23 Mar 2020 03:29 PM

The Reserve Bank of Australia on Monday bought A $ 4 billion ($ 2.3 billion) of local government bonds as part of its quantitative easing program to keep short-term cash rate around 0.25%.

it bought across maturities from A $ 891 million in May 2021 bonds to A $ 1.15 billion in December 2021 and A $ 850 million in April 2027. He also bought A $ 1.1 billion in November 2028 bonds.

Friday - was the first day of the bond-buying program - the Reserve Bank of Australia bought A $ 5 billion to ensure that credit was cheap and freely available across the economy as the impact of the Coronavirus deepened.

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