The Reserve Bank of Australia (RBA) on Thursday proposed to buy A$3 billion in sovereign government bonds as part of its quantitative easing programme to keep short-term yields around the cash rate of 0.25%.
The RBA will buy bonds with maturities in May 2021 to April 2024.
The central bank has purchased A$15 billion in government securities, including semi-government bonds, since it launched QE on March 20.
(Reporting by Swati Pandey; Editing by Shri Navaratnam)
