RBA warns of’ ‘substantial’ business failures and borrower defaults as stimulus is wound back, ASX runs out of steam – ABC News

The Reserve Bank has warned that Australian home prices are likely to fall further, borrower defaults will increase and business failures will rise substantially as coronavirus stimulus comes to an end.
Key points:

• Reserve Bank warns of more business bankruptcies and household financial stress when government support ends
• Australian shares pull back after rising for four days in a row this week
• The S&P500 rises 0.8 per cent to 3,447, while the Dow Jones is up 0.4…

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