Global markets fell during March, reacting to the ongoing situation and government stimulus measures with volatility.
The cash rate for April has been left unchanged, however the RBA cut the cash rate twice in March –
4/3/2020 decreased to 0.5%
20/3/2020 decreased to 0.25%
The RBA also began buying government bonds to bring yields down in line with the cash rate.
The RBA additionally offered a term facility to banks so they can supply credit to small and medium businesses.
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Sara Ann Millard is an Authorised Representative (No. 242535) and Tax (Financial) Adviser of Crown Wealth Group Pty Ltd (AFSL 494274) and is sub-authorised by FINANCIAL HORIZONS (CAIRNS) PTY LTD Authorised Representative (No. 243012). Any information or advice provided on this site is general in nature only and does not constitute personal or investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. You should seek independent financial advice prior to acquiring a financial product. All securities and financial products such as derivatives or instruments transactions involve risks. Please remember that past performance results are not necessarily indicative of future results.