Business
Australia’s central bank tries to calm bond rout with surprise buying – CNBC
In a surprise move the RBA offered to buy A$3 billion ($2.35 billion) of the April 2023 to April 24 bond lines, on top of a similar amount on Thursday.
Australia’s central bank on Friday launched an unscheduled offer to buy three-year government bonds as a rout in global markets sent yields further above its 0.1% target.
In a surprise move the Reserve Bank of Australia (RBA) offered to buy A$3 billion ($2.35 billion) of the April 2023 to April 24 bond lines, on top of a similar amount on Thursday.
Yet the offer had scant impact in markets, where bonds were taking a hammering amid expectations of faster global growth and inflation.
Yields on cash…
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