Reserve Bank of Australia takes $44.9 billion hit on bonds

Australia's central bank has revealed that it has lost $44.9 billion on the bonds it bought as part of its efforts to support the country's economy during the COVID-19 pandemic.

The Reserve Bank of Australia's deputy governor says that wiped out the bank's profit for the 2021-22 year, leaving a net loss of $36.7 billion.

The bonds were accumulated under a $300 billion emergency stimulus programme.

However, the bank says the loss will not affect its normal operations.