The Reserve Bank of Australia (RBA) announced on Wednesday that it bought AUD900 million worth of state government bonds. The central bank purchased A$530 million of New South Wales notes and A$370 million of Victoria notes. RBA said earlier today that it would buy semi-government bonds worth A$ 2 billion maturing in Jan 2026 to June 2030. It also offered $10 bln in US dollar repo operation on Thursday.
RBA emergency moves to counter coronavirus impact
Reserve Bank of Australia latest emergency moves
The Reserve Bank of Australia (RBA) said on Wednesday, it would offer $10 billion and join in a global coordinated effort to US dollar funding crisis. The repo tender will be held on March 26 and the loan on offer will be for 84 days, the RBA said.
As a part of its quantitative easing program, the Reserve Bank of Australia (RBA) will buy semi-government bonds worth A$ 2 billion maturing in Jan 2026 to June 2030. The central bank cut rates to zero and announced bond purchases last week to stem the economic fallout from the coronavirus outbreak.
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April RBA meeting review
At its scheduled April monetary policy meeting held Tuesday, the Reserve Bank of Australia (RBA) maintains its official cash rate (OCR) at a record low of 0.25%, as widely expected.
Following are the key headlines from the April RBA monetary policy statement (via Reuters): Will do what is necessary to achieve yields target on 3-year bonds at 0.25%.
March RBA meeting review
At its emergency March monetary policy meeting held on Thursday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.25%, as widely expected.
Following are the key headlines from the March RBA monetary policy statement (via Reuters): Exchange settlement balances at the reserve bank will be remunerated at 10 basis points, rather than zero as would have been ...
What is the RBA?
The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes.
The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.
Who is RBA's president?
Interest rates latest news
The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.