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ASX hits five-week high as Reserve Bank reports $11.3 billion loss
Original: ASX jumps to five-week high, Reserve Bank posts $11.3 billion loss | Finance Report | ABC NEWS
Australian shares have climbed to a five-week high, while the Reserve Bank of Australia has reported a loss of $11.3 billion, according to ABC News' finance report. The market rally comes despite the central bank's negative equity position, a consequence of losses on its bond holdings from the pandemic-era stimulus programme. Analysts are weighing what the bank's negative equity means for its operations and credibility.
Why now: Investors are reacting to a strong local sharemarket alongside the unusual disclosure of the central bank's multibillion-dollar loss
Reserve Bank of AustraliaASXABC News
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- ASX jumps to five-week high, Reserve Bank posts $11.3 billion loss | Finance Report | ABC NEWS · ABC News (Australia) · 45.1K
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