RBA sees economy contracting 6% in 2020

RBA sees economy contracting 6% in 2020

Australia’s central bank expects the economy to contract by 6 per cent this year and unemployment to peak at 10 per cent as businesses shut to curb the spread of the novel coronavirus. The Reserve Bank of Australia (RBA) cut interest rates twice in March to a...
RBA sees economy contracting 6% in 2020

Macquarie cuts dividend as FY profit drops

Macquarie Group has halved its dividend after reporting an 8 per cent drop in full year profit, and said challenging market conditions due to the coronavirus pandemic make it hard to predict its fiscal 2021 performance. Macquarie’s profit for the year ended...