March 26, 2020 / 5:06 AM / 7 days ago

Australia central bank buys $3 bln govt bonds in QE programme

SYDNEY, March 26 (Reuters) - The Reserve Bank of Australia (RBA) said it has bought A$3 billion ($1.8 billion) in sovereign government bonds on Thursday as part of its quantitative easing programme to keep short-term yields around the cash rate of 0.25%.

Australia’s central bank bought across maturities with the maximum amount going into May 2021 bonds at A$1.19 billion. It also bought April 2023 bonds for A$893 million, and the remainder was used to soak up December 2021, July 2022 and November 2022 securities.

With Thursday’s purchase, the central bank has now bought A$18 billion in government securities, including semi-government bonds, since it launched quantitative easing on March 20.

($1 = 1.6889 Australian dollars)

Reporting by Swati Pandey; Editing by Tom Hogue

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