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RBA Highlights Recovery Uncertainties as Second Wave Threatens

Tuesday, 7 July 2020 14:06 WIB RBA Ekonomi Australia Reserve Bank of Australia

Australia’s central bank chief highlighted worries among households and businesses about the health and economic outlook, as the nation’s successful run of Covid-19 containment was rocked by a new outbreak, damping the economy’s otherwise improving prospects. Reserve Bank of Australia Governor Philip Lowe kept the cash rate and three-year yield target unchanged at 0.25%, as expected. Soaring job advertisementsand retail sales suggest the economy is recovering, yet a spiraling rate of cases in Australia’s second-largest city is a stark reminder of ongoing risks. “The downturn has been less severe than earlier expected” and conditions have stabilized recently, Lowe...

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