RBA introduces yield curve control
Lowe says measure would not have been considered under “normal times”
The Reserve Bank of Australia has cut interest rates to a new low of 0.25%, alongside a comprehensive set of measures including a form of yield curve control.
In a decision today (March 19), the RBA’s board voted to cut rates by 25 basis points. It also announced it was implementing yield curve control and strong forward guidance to provide further stimulus to the economy.
Interest rates in Australia are now in line with those in the US and UK. Governor Philip Lowe said the central bank will
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