Matter Of Fact Tone Around Easing Measures

The RBA's language re: its ACGB purchase scheme and the impact on the AUD was very matter of fact, and contained no notable surprises: "The Bank's policy response has lowered interest rates across the yield curve, which will assist the recovery by: lowering financing costs for borrowers; contributing to a lower exchange rate than otherwise; and supporting asset prices and balance sheets. The Term Funding Facility is also supporting the supply of credit to businesses. To date, authorised deposit-taking institutions have drawn down $84 billion under this facility and have access to a further $105 billion. Over the past month, the Bank has bought $19 billion of government bonds under the bond purchase program and a further $5 billion of Australian government securities in support of the 3-year yield target. Since the start of this year, the RBA's balance sheet has increased by around $130 billion."