The Reserve Bank has cut the official interest rate to 0.10 per cent from 0.25 per cent and announced a quantitative easing program of $100 billion.
In a full suite of measures designed to lower borrowing rates for business, governments and households to stimulate the economy, the bank said it would purchase $100 billion worth of five to 10-year government bonds over the next six months.
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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
