Free Trial

MNI: RBA Sees Economy Contracting 10% in H1: Minutes

MNI (London)
     SYDNEY (MNI) - The Reserve Bank of Australia sees a sharp contraction in
the economy of around 10% in the first half of 2020, with unemployment also
jumping to 10%, the minutes of the May 5 meeting show.
     Board members, however, see the measure put in place over recent months
were largely working as planned and a recovery should begin in the second half
of the year, dependant on the containment of the virus.
     The full text of the RBA minutes can be found here:
https://tinyurl.com/yam2ztlq
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MMLRB$,M$A$$$,M$L$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.