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Australia c.bank offers to buy $1.2 bln in semi-government bonds

Published 25/03/2020, 11:28 am
Updated 25/03/2020, 12:12 pm
© Reuters.

SYDNEY, March 25 (Reuters) - Australia's central bank on Wednesday offered to buy A$2 billion ($1.19 billion) in long-dated semi-government debt as part of its quantitative easing programme.

This is the first time the Reserve Bank of Australia (RBA) is offering to buy semis, perhaps a nod to the financing pressure that states are likely to face under new coronavirus-restrictions on home auctions and open inspections. said the new restrictions announced on Tuesday will hit state government revenues as they are heavily reliant on stamp duty from home sales.

($1 = 1.6804 Australian dollars)

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