SYDNEY, Nov 3 (Reuters) - Australia's central bank cut its cash rate to a record low of 0.1% on Tuesday and said it planned to buy A$100 billion ($70.5 billion) in longer-dated government debt as the economy struggles to recover from a COVID-inflicted recession.
The Reserve Bank of Australia (RBA) also cut its target for three-year bond yields to 0.1%, from 0.25%, following a monthly Board meeting.
A Reuters poll of 25 analysts had found almost all expected a rate cut this week, combined with purchases of longer-dated debt of A$100 billion or more. ($1 = 1.4182 Australian dollars)
