Business
ASX rises; RBA dismisses ‘DivKeeper’ criticism – The Australian Financial Review
Australian shares are modestly higher as NAB, BHP and CSL pace gains. Reserve Bank governor Philip Lowe expects the Victorian lockdowns will see a 2 percentage point hit to economic growth in the September quarter. NAB’s third quarter cash earnings fall 7 per…
RBA governor Philip Lowe says there is a difficult reality to face with a potential surge in business failures.
“A wave of insolvencies is certainly a concern,” Dr Lowe told parliament’s economics committee.
“Extending the provisions – its an issue that’s going to need to be managed.”
“At some point though we will have to confront the reality. There will be failures.”
“There will be insolvencies and bankruptcies – that is the harsh reality. But it is better off if that process is staggere…
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