SYDNEY, Feb 25 (Reuters) - Australia's central bank on Wednesday sharply increased the amount of three-year bonds it was offering to buy in its regular market operations, likely aiming to restrain a recent jump in yields above its 0.10% target.
The Reserve Bank of Australia (RBA) offered to buy A$3 billion ($2.39 billion) of the April 2023 to April 24 bond lines, up from A$1 billion at Monday's operation. The latter was the first purchase since mid-December and was seen by analysts as an initial reaction to a global sell off in bonds.
Yields on three-year paper AU3YT=RR eased a touch to 0.138%. They had climbed as high as 0.168% this week, levels not seen since early October and well above the RBA's target of 0.10%.
($1 = 1.2542 Australian dollars)