RBA offers to buy up to A$5 bln of government bonds in first round of QE
|Reserve Bank of Australia said it will buy up to A$5bln of government bonds in the first round of QE.
Key notes
- Says offers to buy bonds with maturity between 2 years and 8 years.
- Says offers to buy govt bonds maturing July 2022, April 2023, Nov 2027 and May 2028.
Meanwhile, The National Australia Bank ltd announces sweeping support package for business and personal customers.
Key notes
- National Australia bank ltd - Home loan customers experiencing financial challenges will also be able to pause their repayments for up to six months.
- National Australia bank ltd - NAB will cut 200bps from rate on new loans.
- National Australia bank ltd - Will reduce variable rates on small business loans by 100bps, effective March 30.
- NAB - Business customers experiencing financial difficulty can defer payments on range of floating & variable rate business loans for up to 6 mths.
- National Australia Bank announces reductions of up to 60bps to fixed rate home loans.
AUD/USD action
since AUD/USD falls 1% in early Asia, AUD/USD has recovered and run to a fresh high of 0.5785, going from -1% to now +0.75%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.