KSE100 34408.05  ▲ Increased By 386.08 (1.13%)
KSE30 15071.48  ▲ Increased By 215.83 (1.45%)
BR100 3542.91  ▲ Increased By 42.56 (1.22%)
BR30 18504.96  ▲ Increased By 58.77 (0.32%)

Business Recorder Logo

Jun 02, 2020 PRINT EDITION

SYDNEY: Australia's central bank said on Wednesday that it was unlikely unconventional monetary measures will be needed in the country at this juncture, though it would consider them if needed.

The Reserve Bank of Australia (RBA), which has cut rates twice this year to a record low of 1%, was commenting in written responses file:///C:/Users/U8016670/Downloads/RBA%20responses%20to%20quest ions%20in%20writing%201-19.pdf to lawmakers' questions in parliament.

The RBA said if warranted, it would focus on reducing the risk-free interest rate which involves cutting the cash rate further and possibly buying long-term government bonds.