RBA purchases A$900 million of state government notes

Author: Justin Low | Category: Central Banks

RBA taps into the semi-government bond market

This was already announced earlier here. The split is A$530 million of New South Wales notes and A$370 million of Victoria notes. 

As Australia begins to impose new restrictions to counter the virus outbreak, it will start to have a negative impact on state government revenues so this is mainly to help with calming the volatility in the semi-government bond market.

The RBA will also offer $10 billion in dollar repo operations tomorrow, in order to help address funding pressures related to the greenback - just something to take note of.

Update (0428): RBA purchases another $A307 million of Queensland notes and $593 million of Western Australia notes.

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