Business
Markets Live, Tuesday 4 August, 2020 – The Sydney Morning Herald
Australian shares jumped by as much as 2.2% on a strong lead from Wall Street. The RBA held the cash rate at its record low 0.25%
“This recovery is, however, likely to be both uneven and bumpy, with the coronavirus outbreak in Victoria having a major effect on the Victorian economy,” he said in a statement.
Markets had expected the RBA to hold rates, with the bank signalling it would not start lifting them until inflation approached its 2-3 per cent target range and the jobs market was strengthening.
Inflation data last week showed the largest fall in consumer prices since September 1931. Unemployment rose in June to 7.4…
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