March 16, 2020 / 1:12 AM / 17 days ago

Australia ready to buy government bonds to support markets

SYDNEY, March 16 (Reuters) - Australia’s central bank said on Monday it was ready to purchase local government bonds to support the smooth functioning of the market and will announce further policy measures later this week.

It will also conduct one-month and three-month repo operations until further notice to provide liquidity to Australian financial markets, Reserve Bank of Australia (RBA) Governor Philip Lowe said in a short statement.

The Bank will announce further policy measures to support the Australian economy on Thursday, Lowe added. (Reporting by Swati Pandey and Wayne Cole; Editing by Christian Schmollinger)

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