News
Reserve Bank bracing for biggest economic decline in decades
Reserve Bank governor Philip Lowe expects economic growth to contract by seven per cent when the June quarter figures are released.
News
Reserve Bank governor Philip Lowe expects economic growth to contract by seven per cent when the June quarter figures are released.
Opinion
Lockdowns, unemployment and uncertainty mean Australia’s economic pain is likely to continue for years, writes Peter Martin.
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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.
The board of the Reserve Bank believe that their next interest rate move is likely to be a hike, though it may be some time to come.
