MNI: Downturn Severe, May Better First Fears: RBA Minutes Text

     SYDNEY (MNI) - The Reserve Bank of Australia sees a possibility the

downturn for the Australian economy may be shallower than first thought as virus

infection rates peak, the minutes of the June 2 meeting show.

     Board members, however, see the measure put in place over recent months

were largely working as planned although accommodative moves would remain in

place for sometime, adding that the bank was prepared to restart its bond buying

program if and when needed.

     The full text of the RBA minutes can be found here:

https://tinyurl.com/ya9mk8ed

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MMLRB$,M$A$$$,M$L$$$]