Coronavirus Australia: RBA says economy will be even worse than expected – NEWS.com.au

Sorry Australia, the economic outlook is worse than we thought. And it could get even worse. That was the message from the RBA yesterday as it issued a bunch of forecast downgrades and released a new COVID downside scenario that shows Australia a truly terrifying possible future.The economic effect of the coronavirus is turning into less of a short sharp slap in Australia’s face and more of a chronic injury.
The official forecasts didn’t always predict this. Back in May, the RBA put out three s…

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