The Reserve Bank has held the official interest rate at 0.25 per cent, but declared it will start buying government bonds again on Wednesday to keep the cost of borrowing at record lows.
Governor Philip Lowe said further fiscal and monetary stimulus would also be needed as the bank considered new unemployment and GDP forecasts.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
