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Australia Central Bank Ends Key Pandemic Program
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SYDNEY—The Reserve Bank of Australia will end a bond-buying program that has anchored its response to the Covid-19 pandemic, given accelerated inflation and a tight job market.
The RBA said Tuesday that this month it will cease its weekly purchases of about 4 billion Australian dollars, equivalent to $2.82 billion, in government bonds. The decision was paired with new economic forecasts showing the unemployment rate is likely to fall below 4.0% later this year, which would be its lowest level since the 1970s.
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