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Financial News: Australia Maintains Rate; Asset Purchases

Australia Maintains Rate; Asset Purchases

05/05/2020 - 00:41:00 (RTTNews)

(RTTNews) - Australia's central bank maintained its interest rate and the target yield on three-year government bonds.

At the monetary policy meeting on Tuesday, the Reserve Bank of Australia board kept its interest rate at a record low 0.25 percent and the targeted yield on three-year government bonds at around 0.25 percent.

The bank said the target will remain in place until progress is being made towards the goals for full employment and inflation.

The bank said it is committed to do what it can to support jobs, incomes and businesses during this difficult period and to make sure that Australia is well placed for the expected recovery.

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