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RBA governor Philip Lowe says economic shock caused by COVID-19 not as bad as first thought – NEWS.com.au
RBA governor Philip Lowe says economic shock caused by COVID-19 not as bad as first thought
The Reserve Bank of Australia says the economy has been more resilient than initially anticipated but ongoing support is needed while inflation remains stagnant and unemployment is high.Speaking to the National Press Club in his annual address, RBA governor Philip Lowe said the recession sparked by the coronavirus pandemic was not as deep as first thought, with stimulus measures and a vaccine rollout boosting confidence.
“The development of vaccines in record time is clearly good news,” Dr Lowe…
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