Original article by Patrick Commins
The Australian – Page: 1 & 4 : 4-Nov-20
Reserve Bank of Australia governor Philip Lowe has flagged the use of "additional monetary policy options" if necessary, after reducing the cash rate to a record low and announcing a quantitative easing program. Lowe has indicated that the cash rate will remain at 0.1 per cent for 3-5 years, while the RBA’s three-year bond rate target has also been reduced to 0.1 per cent. Meanwhile, former RBA board member John Edwards has hailed the "courageous" and "historic" decision to pursue quantitative easing. The central bank will purchase about $5bn worth of federal and state government bonds each week over the next six months.
RESERVE BANK OF AUSTRALIA