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Australia weighing benefits of expanding govt bond buying programme -Governor

10/14/2020 | 06:41pm

SYDNEY, Oct 15 (Reuters) - The Reserve Bank of Australia (RBA) Board was studying the benefits that would come from buying longer-dated government bonds as part of its monetary stimulus package to boost jobs and growth, Governor Philip Lowe said on Thursday.

The RBA board was looking at whether expanding the existing government bond-buying programme to include longer-dated maturities would help its "main priority" of creating jobs, Lowe said, responding to questions after a speech in Sydney.

Ten-year bond futures rallied on the remark, rising 6.5 ticks to 99.225, the highest since April 2020.

During his speech, Lowe opened the door for another cut to the cash rate from a record low 0.25% now, saying monetary easing would become more effective as the economy loosens its coronavirus restrictions. (Reporting by Swati Pandey and Wayne Cole; Editing by Muralikumar Anantharaman)

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