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NAB CEO warns of ‘crushing’ hit to confidence if state borders stay shut – Sydney Morning Herald
Bank chief Ross McEwan says Australia needs to develop a plan for living with the virus and warns Melbourne property prices could tumble as owners rush to sell as restrictions ease.
Mr McEwan pointed to the economic potential for domestic tourism highlighting that in pre-COVID times there were more Australians holidaying overseas than there were foreign tourists in Australia.
“If we could find a way of getting our borders open and let people have their holidays in Australia, that makes up a lot of tourist dollars that are not in this country today, he said.
NAB is forecasting unemployment will peak at 10 per cent in the March quarter next year and remain at 8 per cent unt…
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