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Citing sources familiar with the matter, Reuters reported that Australia’s financial regulators scheduled an emergency call on Monday to discuss the impact of the coronavirus outbreak.

This comes as the New South Wales State government confirmed the first community transmission of the new coronavirus infection.

The conference call is scheduled between the country’s prudential regulator, markets watchdog and Reserve Bank of Australia, as the country wants to avoid recessionary risks.

There are now 30 confirmed cases in Australia and the nation’s chief medical officer warned on Monday.