Economy will need support for years: RBA

Economy will need support for years: RBA

Australia’s central bank believes the economy has done better than feared during the coronavirus crisis but the hit to growth will have a “long-lived impact” requiring policy support for years to come. “There is considerable uncertainty over...
Economy will need support for years: RBA

Shares to rise early on US economy data

Investors are likely to see slight gains early on the Australian share market after improving economic data helped Wall Street edge higher. The Australian SPI 200 futures contract was higher by 4.0 points, or 0.07 per cent, to 5,929.0 at 0700 AEST on Wednesday. In the...
Economy will need support for years: RBA

S&P 500 tops 3000 on hopes for economy

US stocks have jumped and the S&P 500 has breached 3000 points as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-US tensions. The benchmark index traded above the key psychological level...
Economy will need support for years: RBA

US shares slip as Fed warns on economy

The S&P 500 and Dow has slipped as Federal Reserve Chairman Jerome Powell warned of an extended period of weak growth and stagnant incomes, while he also dismissed speculation over negative interest rates. “There is a sense, growing sense I think, that the...
Economy will need support for years: RBA

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...