Appendix  https://www.rba.gov.au/speeches/2021/sp-dg-2021-05-06.html  23/26  5/6/2021  Monetary Policy During COVID | Speeches | RBA  Table 1: Chronology of RBA's support for the economy and financial system in response to COVID-19 3 March 2020 Statement by RBA Governor: Monetary Policy Decision  Cash rate target reduced from 0.75 per cent to 0.5 per cent.
In all countries, though, policy makers are also keeping an eye out for the potential low probability, but high cost, downside events that could emerge. It looks as though the environment will remain quite challenging for us all for a while but the strength of the Australian financial system is, for Australia, a good basis for meeting the challenge. BIS Review 34/2008  5