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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