Reserve Bank of Australia announces the cash rate target will be held at 0.25%. 

At its August 2020 meeting, the Reserve Bank of Australia announced the cash rate target would be held at 0.25%. 

The record low cash rate target setting, which has been described by the RBA as the ‘effective lower bound’, remains a key feature of the monetary policy deployed in response to COVID-19. 

Other monetary measures include the provision of a term funding facility for banks to maintain liquidity, and the purchase of government bonds in the secondary market to reduce the cost of…