Business Economy 19 Mar 2020 Australia central ba ...

Australia central bank cuts rates to new record low of 0.25%

AFP
Published Mar 19, 2020, 10:03 am IST
Updated Mar 19, 2020, 10:03 am IST
Central bank of Australia cuts cash rate a quarter point, to remain at this record low "until progress is made towards full employment"
Reserve bank of Australia (Image- AFP)
 Reserve bank of Australia (Image- AFP)

Sydney: Australia's central bank made an emergency interest rate cut to a historic low of 0.25 percent on thursday as part of several measures to counter the fallout from the coronavirus pandemic.

The Reserve bank of Australia board cut the cash rate a quarter point and said it would remain at this record low "until progress is being made towards full employment".

 

Other measures included of government bond purchases and support for the banking sector, it said.

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