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The RBA is trying to un-stick a market gummed up by coronavirus fear – but there's only so much it can do

  • 📰 The Guardian
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  • 2 min. at publisher
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  • News: 4%
  • Publisher: 53%

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Australia’s central bank has thrown almost $15bn into credit markets and plans to spend more, but will it work?

Since Friday, the Reserve Bank of Australia has thrown almost $15bn into credit markets in a bid to get them moving again.Amid stockmarket mayhem on Monday, the RBA made it clear it was ready to spend up big – no number has yet been set – by buying government bonds, injecting Australia’s banks with the cash craved by executives running scared because of the coronavirus pandemic.

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Australian stock market: mayhem as ASX200 tumbles 9.7% on coronavirus fearsIn biggest one-day fall in decades, 30% of the value of shares has been wiped from the index in less than a month due to coronavirus-inspired panic selling People are so dumb. Result of poor education. Chill the eff out everyone. Many of your have probably already recovered from the Wuhan Virus and didn't even know it Didn't you guys already post this a couple of times last week?
Source: The Guardian - 🏆 84. / 53 Read more »