Disclosure Statement: Durand Financial Services Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.
(Australian Associated Press)
WHAT THE RESERVE BANK IS DOING
* Cut in the cash rate target to 0.1 per cent
* Reduction in the target for the yield on the three-year Australian government bond to about 0.1 per cent
* Reduction in the interest rate on new drawings under the Term Funding Facility to 0.1 per cent
* Reduction in the interest rate on Exchange Settlement balances to zero
* Purchase of $100 billion of government bonds of maturities of around five to 10 years over the next six months