RBA to buy A$3bn government bonds on Thursday

The Reserve Bank of Australia (RBA) is considering buying A$3bn (US$1.8bn) of Commonwealth government bonds (ACGBs) with maturities between May 2021 and April 2024, IFR News reports.

This will be the RBA’s fourth round of ACGB purchases since introducing open-ended quantitative easing on March 19.

On Wednesday, the RBA extended QE into the semi-government sector to help compensate for shrinking state revenues.

AUD/USD reaction

The Aussie remains heavy below 0.5900 amid risk-aversion and weaker commodities’ prices.

At the press time, the spot trades at 0.5890, having hit a daily low of 0.5870.