Australia central bank pumps in liquidity, buys bonds as deep recession looms
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SYDNEY (Reuters) - Australia's central bank injected A$6.9 billion (3.51 billion pounds) into the financial system on Tuesday and bought A$4 billion in bonds as economists predicted a spike in unemployment and the worst recession in the country's history due to the coronavirus.The Reserve Bank of Australia (RBA) has flooded the system with nearly A$65 billion cash since March 12 when a liquidity crunch sent global markets into a tailspin. It has also purchased A$13 billion in government bonds..