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Reuters ahead with key news on Australia's move into QE

Reuters swept the competition on Australia’s historic move to accompany a record low policy rate with a foray into quantitative easing, leading by seven seconds on a cut in its cash rate to 0.25% and by 20 seconds on also targeting 0.25% for three-year bonds. Reuters was nearly three minutes ahead on the RBA buying bonds in the secondary market.

Market reaction:

The out-of-schedule decision sparked a bounce in the Australian dollar, which had collapsed to a 17-year low in volatile coronavirus-driven trade, while three-year bond yields dropped to 0.35% from 0.589%.