Australian Prime Minister
Australian Prime Minister

The Australian government issued a decision this morning to all citizens through the payment of new aid, in the context of the government's keenness to support the Australian economy.

In that context, and after the issuance of that decision, the Australian Central Bank announced that the interest rate was reduced to a record low, in a move that occurs for the second time in less than a month with the repercussions of the aura, and launched the "Facilitation Program Amount".

In this response, the Reserve Bank of Australia showed and demonstrated in its monetary policy statement posted on its website on Thursday that it had decided to reduce the country's main interest rate by about 25 basis points (0.25 per cent) to 0.25 per cent.

At the moment Australia's interest rate is at the lowest level in the country's history, because it comes after cutting 25 basis points early this month.

The Reserve Bank of Australia launched a bond purchase program, for the first time ever, with a 3-year bond yield of the Australian government of 0.25 per cent.

Also, the Australian government has also launched and reduced a package of tax cuts, in the context of the government's eagerness to support the Australian economy.

On the other hand, policy makers have shown and demonstrated during the statement that the Coruna virus is a public health problem first and foremost, but it has major implications for the economy and financial system.

They added in their conversation that during yesterday's meeting, this stimulus package was agreed to support the Australian economy during this difficult period.

According to the statement, the Reserve Bank of Australia believes that at some point the virus will be contained and the economy will recover, but until that happens, the bank will support jobs, income and companies so that the country is in a good position to recover strongly.

In a separate statement, the Australian government said it may purchase A $ 15 billion of mortgage-backed securities and other assets within the next twelve months.

By 8:38 AM GMT, the Australian dollar fell against its US counterpart by about 0.8 percent to $ 0.5726.

At present, the Australian currency fell yesterday, the lowest 60 US cents for the first time since 2003, with the declaration of a state of emergency in the country by "Corona".

It should be noted that all governments in the world today are taking new measures to support their economy for fear of the collapse of the economy after the outbreak of the Corona virus.