Australia central bank holds rates, but signals more easing soon

SYDNEY: Australia's central bank held its cash rate at a record low on Tuesday but hinted at further monetary easing as it looks to create jobs in the coronavirus-ravaged economy, which is suffering its worst contraction since the Great Depression.

The Reserve Bank of Australia (RBA) kept the rate unchanged at an all-time low of 0.25%, as widely expected in a Reuters poll. The central bank also affirmed its target for three-year bonds and the recently increased cheap funding program for lenders, but signalled it was considering other measures to boost activity.