(hooly-news.com) – The Reserve Bank of Australia (RBA) eased its monetary policy on Tuesday. The institution thus reduced its main policy rate by 15 basis points. The latter therefore stands at 0.10%, which represents a new historic low. This decision had been anticipated by economists. The RBA is working to support economic activity and jobs affected by the Covid-19 pandemic. At the same time, the RBA has pledged to buy back $ 100 billion worth of government securities over the next six months.
Ultimately, the RBA does not plan to hike rates for the next three years.