Australian central bank cuts key interest rate to 0.1%

 CANBERRA, Australia (AP) — Australia’s central bank on Tuesday cut its benchmark interest rate by 0.15 of a percentage point to a record low 0.10% in a bid to lift the economy from a pandemic-induced recession.


The move was the first since March when the Reserve Bank of Australia board made two cuts of a quarter of a percentage point each two weeks apart.


The Reserve Bank also announced it would buy 100 billion Australian ($70 billion) of government bonds of maturities of around five-to-10 years over the next six months.


The bank is prepared to buy bonds in whatever quantity is required to achieve a 3-year yield target of 0.1%, Reserve Bank governor Philip Lowe said in a statement.


Read more:  https://apnews.com/article/business-virus-outbreak-australia-economy-67cd14b9e3bd39ab74bfff18002b7835 

Comments

Post a Comment

Popular posts from this blog

9 Top Dermatologists Reveal Their Skin-Care Routines

Image
 All products featured on Allure are independently selected by our editors. However, when you buy something through our retail links, we may earn an affiliate commission. Here's the lowdown on how to subscribe to Allure's print edition for more beauty routines, recommendations, and features. As unfair as it might be, most non–medical professionals, like you and me, simply expect dermatologists to have picture-perfect skin. And nine times out of 10, they do — but not without putting the work in. Sure, some dermatologists might be blessed with naturally cooperative complexions, but countless others struggle with common skin woes, like acne and eczema, just like the rest of us. Perhaps you're wondering: Well, can't they just use their fancy-schmancy in-office services to sort out their issues? Read more:   https://www.allure.com/story/skin-care-routines-of-dermatologists
Read more

How to Create a Natural DIY Skincare Routine

Image
 From a young age, we learn that taking care of our skin and having a great skin care routine is vital. I remember growing up that I'd use all sorts of different store-bought cleaners on my face, not knowing what was in it or what I was putting on and into my skin. I never once checked the ingredients or read the bottle to dig a bit deeper. I just knew that I'd either viewed it on a commercial or read about it in a book where it was a good, deep cleaner and beauty care product that “everyone” else was using. Read more: https://simplepurebeauty.com/6777/step-by-step-guide-to-a-natural-diy-skin-care-routine/
Read more

Malic Acid: Your Key to Smoother, Younger Skin

Image
 Despite its sinister-sounding name, the word malic acid comes from the Latin word “malum,” which means apple. Malic acid was first isolated from apple juice in 1785, and it’s what gives some foods and drinks a tart taste. If you’re a fan of slightly acidic wine, malic acid probably played a role. It’s also a common ingredient in many hair and skin care products, including: shampoos body lotions nail treatments acne and anti-aging products Read More: https://www.healthline.com/health/malic-acid-skin-care
Read more