Australia's central bank maintained its interest rate and the target yield on three-year government bonds as it expects the economy to register a "very large" contraction in the second quarter due to the disruption caused by the coronavirus, or Covid-19, pandemic.
At the monetary policy meeting on Tuesday, the Reserve Bank of Australia board kept its interest rate at a record low 0.25 percent and the targeted yield on three-year government bonds at around 0.25 percent.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com