RBA Forecasts Double-Digit Contraction and Unemployment in First Half of the Year

<p>As revealed in the latest Statement of Monetary Policy (SMP), RBA sharply cut economic forecasts for this year. GDP is projected to record double-digit contraction in the first half of the year before recovery in 2021. The unemployment rate could peak at 10%, while inflation could fall the negative territory, this quarter. Policymakers did not […]</p>
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