The Reserve Bank believes Australia's first recession in three decades is already over and the nation has moved past the worst of the global coronavirus downturn.
RBA Deputy Governor Guy Debelle spoke at a senate estimates hearing, revealing to the committee official Reserve Bank forecasts are expected to show the economy started growing again in the three months to September. The financial body will release a new economic forecast next Friday, when it hands down its quarterly monetary policy statement.
EXCEPT for Victoria.
Australia fared better than most countries. No full lockdown. Low economic shrinkage. Better local economic recovery. We're a bit bruised & battered. But we're not a bloodied mess like the US.
The Reserve Bank is working under the assumption that the pandemic is over. Let's wait and see.
A banker says.. well then it must be true as we have seen how DISHONEST they can be
Defund the Reserve Bank Worse than useless