Australia cuts rates to historic lows, expands bond-buying scheme

Australia’s central bank slashed interest rates to historic lows and ramped up its huge bond-buying programme Tuesday in a push to help revive the country’s pandemic-hit economy as it emerges from lockdowns. However, bank governor Philip Lowe warned that the recovery would depend on keeping a lid on the coronavirus, which is seeing a resurgence in key markets in the US and Europe. The Reserve Bank of Australia cut the cash rate from 0.25 percent…