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RBA holds rates steady, extends bond buying program by $100b – Sydney Morning Herald

The bank’s rates decision was not unexpected but in a surprise move, the board announced it would spend an extra $100 billion buying federal and state government…



That is on top of the almost $200 billion cheap line of credit that it has extended to commercial banks to on-lend to small and medium sized businesses and a record low official cash rate of 0.1 per cent. The bank held the cash rate at 0.1 per cent on Tuesday.
Governor Philip Lowe said the nations economic recovery was well under way and stronger than expected but there were risks ahead including the fallout from the end of the federal governments JobKeeper program and COVID supplement payment to…

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