RBA: Downturn shallower than expected, accommodative approach to stay

<p>Minutes of June 2 RBA board meeting noted that while Australian economy was experiencing the “biggest economic contraction since the 1930s”, the downturn would be “shallower than earlier expected”. Though, outlook remained “highly uncertain” and the pandemic was “likely to have long-lasting effects” on the economy. The policy package was “working broadly as expected”. The […]</p>
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