Business
‘Uneven and bumpy’: RBA revises jobless figures to 10pc – The Australian Financial Review
The Australian economy is in for a more subdued recovery than previously predicted, the Reserve Bank says, but unemployment is set to rise.
“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.”
Enormous pressure
The bank’s revised economic outlook comes as Premier Daniel Andrews imposed stricter rules on Victorians, banning them from exercise with fines of up to $5000 and court penalties of $20,000 for leaving home, after more than a quarter of those meant to be in isolation could not be found.
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