Business
RBA readies to unveil Cup Day surprise to boost jobs – Sydney Morning Herald
Reserve Bank prepares for a Melbourne Cup Day stimulus package while there are signs the economy is recovering from the worst of the coronavirus recession.
“We need to remember that it’s not only borrowers who are customers, but also people who have savings and deposits accounts and they’re getting very, very low rates. So banks will want to balance all of that out,” she said.
The RBA is also expected to cut rates it charges commercial banks including on the $200 billion line of credit it has extended to lenders in a bid to encourage them to supply credit to small and medium-sized businesses.
And as part of the package, the bank is expected to expand…
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