# Statement by Philip Lowe, Governor: Monetary Policy Decision - April 2020 | Media Releases | RBA

> The RBA kept its cash rate and 3-year bond yield target at 25 basis points at its 7 April 2020 meeting. The statement expects large contractions and unemployment worldwide, with a recovery after the virus is contained. The bank has bought about $36 billion of government bonds.

- Date: 2020-04-07 · published 2020-04-07T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/53896-statement-by-philip-lowe-governor-monetary-policy-decision-april-2020-media
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Rate policy anchored at low levels weakens the AUD relative to the USD over time, which can influence Australian export pricing for grains and other commodities.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- rba.gov.au: https://www.rba.gov.au/media-releases/2020/mr-20-11.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.