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Reserve Bank meets amid lockdown economic clouds
There has been a rapid deterioration in the economic outlook since the Reserve Bank of Australia board last met in August.
News
There has been a rapid deterioration in the economic outlook since the Reserve Bank of Australia board last met in August.
News
Reserve Bank governor Philip Lowe expects economic growth to contract by seven per cent when the June quarter figures are released.
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The market remains almost certain the Reserve Bank will act to cushion the impact of the coronavirus by cutting the cash rate to a record low 0.5 per cent.
As world share markets go into freefall as an ever-spreading coronavirus sparks fears of a potential global recession, the Reserve Bank of Australia could well cut interest rates this week to soften the impact.
Australia’s economy may have reached a “gentle turning point” on the back of lower interest rates and recent tax cuts, Reserve Bank of Australia Governor Philip Lowe says.
The Reserve Bank cut interest rates – and may do so again within months – because nervous Australians aren’t getting pay rises, and aren’t spending enough to turn around dismal economic figures, says Peter Martin.
