FOREX TradingCharts.com

Financial News: RBA Cuts Key Rate To Record Low; Expands

RBA Cuts Key Rate To Record Low; Expands QE

11/02/2020 - 23:09:00 (RTTNews)

(RTTNews) - Australia's central bank unveiled a package of monetary easing to support job creation and the recovery of the economy from the pandemic.

The policy board of the Reserve Bank of Australia headed by the governor Philip Lowe decided to lower its key rate by 15 basis points to a record low of 0.10 percent.

The bank also decided to cut the target for the yield on the 3-year Australian Government bond to around 0.1 percent and to purchase A$100 billion government bonds of maturities of around 5 to 10 years over the next six months.

Further, the bank will reduce the interest rate on new drawings under the Term Funding Facility to 0.1 percent and cut the interest rate on Exchange Settlement balances to zero.

The bank said today's decision will assist the recovery by lowering financing costs for borrowers; contributing to a lower exchange rate than otherwise; and supporting asset prices and balance sheets.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


India GDP Contraction Slows, Economy Enters Recession (08 hr(s), 57 min(s), 50 sec(s) ago)
(RTTNews) - India's economic contraction slowed sharply in the September quarter, but the econ ...Full Story»

Finland Q3 Growth Revised Up (09 hr(s), 54 min(s), 50 sec(s) ago)
(RTTNews) - Finland's economy exited recession in the third quarter and expanded at a faster t ...Full Story»

India Enters Recession In Sep Qtr (12 hr(s), 09 min(s), 50 sec(s) ago)
(RTTNews) - India's economy entered a recession in the September quarter though the pace of co ...Full Story»

Taiwan Raises 2020 Growth Forecast (12 hr(s), 33 min(s), 50 sec(s) ago)
(RTTNews) - Taiwan upgraded its growth outlook for this year as higher overseas demand for technol ...Full Story»

Italy Producer Prices, Consumer Confidence Falls (12 hr(s), 41 min(s), 50 sec(s) ago)
(RTTNews) - Italy's consumer confidence weakened in November and producer prices continued to ...Full Story»

Spain Retail Sales Fall Further In October (12 hr(s), 40 min(s), 50 sec(s) ago)
(RTTNews) - Spain retail sales declined further in October, albeit at a softer pace, data released ...Full Story»

Iceland Inflation Slows In November (12 hr(s), 45 min(s), 50 sec(s) ago)
(RTTNews) - Iceland's consumer price inflation eased in November after rising in the previous ...Full Story»

France Consumer Prices Rise In November (12 hr(s), 49 min(s), 50 sec(s) ago)
(RTTNews) - French consumer prices rose in November, flash data from the statistical office Insee ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

India GDP Contraction Slows, Economy Enters Recession

11/27/2020 - 11:08 AM (RTTNews)
(RTTNews) - India's economic contraction slowed sharply in the September quarter, but the econ ...Full Story>>

Finland Q3 Growth Revised Up

11/27/2020 - 10:11 AM (RTTNews)
(RTTNews) - Finland's economy exited recession in the third quarter and expanded at a faster t ...Full Story>>

India Enters Recession In Sep Qtr

11/27/2020 - 07:56 AM (RTTNews)
(RTTNews) - India's economy entered a recession in the September quarter though the pace of co ...Full Story>>

Taiwan Raises 2020 Growth Forecast

11/27/2020 - 07:32 AM (RTTNews)
(RTTNews) - Taiwan upgraded its growth outlook for this year as higher overseas demand for technol ...Full Story>>

Spain Retail Sales Fall Further In October

11/27/2020 - 07:25 AM (RTTNews)
(RTTNews) - Spain retail sales declined further in October, albeit at a softer pace, data released ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.