RBA Cuts Rate Further, Launches Asset Purchases To Ease Covid-19 Impact

RBA Cuts Rate Further, Launches Asset Purchases To Ease Covid-19 Impact

RTTNews

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Reserve Bank of Australia decided to cut its key interest rates further to a record low and launched a money printing scheme as the spread of coronavirus, or Covid-19, disrupts economic activity and financial markets. At an emergency meeting on Thursday, the Reserve Bank Board governed by Philip Lowe, decided to reduce the cash rate by 25 basis points to 0.25 percent from 0.50 percent.

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