Reserve Bank of Australia proposes to buy A$3b in govt bonds as part of QE

[SYDNEY] The Reserve Bank of Australia (RBA) on Thursday proposed to buy A$3 billion (S$2.6 billion) in sovereign government bonds as part of its quantitative easing programme to keep short-term yields around the cash rate of 0.25 per cent.

The RBA will buy bonds with maturities in May 2021 to April 2024.

The central bank has purchased A$15 billion in government securities, including semi-government bonds, since it launched QE on March 20.

REUTERS