Loading…
The Reserve Bank of Australia cut its cash rate target to 0.1 per cent and announced purchases of A$100 billion in government bonds over six months. It also reduced the yield target on the 3-year bond and the rate on Term Funding Facility drawings.
The bank said the recovery from the pandemic would be bumpy and drawn out.
Lower Australian rates and bond buying tend to weaken the AUD, which can support Australian export competitiveness for grains and feed commodities priced in USD.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaNov 3, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
