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RBA has woken from ‘monetary slumber’: Keating – Sydney Morning Herald

Former prime minister Paul Keating says the RBA’s rate cuts and $100 billion bond-buying program are aimed at undoing damage done during its “long, fruitless search…

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The interest rate it pays banks that leave money overnight with the RBA has been taken to zero.
Longer term, the RBA will expand its bond-buying program to purchase $100 billion over the next six months, revealing it would start targeting the interest rate on five and 10-year government bonds.
It will split the purchases, with 80 per cent to be of federal government bonds and 20 per cent from state government bonds. The bonds will be bought on the secondary market and not directly from governments.

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