SYDNEY, Nov 5 (Reuters) - Australia's central bank announced a A$2 billion ($1.4 billion) auction of seven-to-10-year government bonds on the first day of its quantitative easing programme on Thursday in an effort to keep borrowing costs low for the virus-ravaged economy.
Following its monthly meeting on Tuesday, the Reserve Bank of Australia (RBA) trimmed its cash rate to an all-time low of 0.1% and announced a A$100 billion quantitative easing programme, targetting long-dated bonds. Thursday, the RBA offered to buy bonds, maturing between November 2028 and May 2032, excluding December 2030, it added. ($1 = 1.3924 Australian dollars)