Reserve Bank of Australia (RBA) Assistant Governor Ellis is once again on the wires now, via Reuters, responding to the Q&A session after her speech titled “The Economic Outlook”.
Recovery will be little stronger due to extension of job support packages.
Employment will now not decline as much as forecast.
Still a pretty weak outlooks given Victoria’s virus restrictions.
Forecasts assume a vaccine will not be fully distributed next year.
Need to get hold of virus to get a strong economy, it’s not a trade off.
AUD/USD keeps the red
Having retreated from 1.5-year highs, AUD/USD holds the lower ground around 0.7225, as markets digest the RBA comments while weighing in the latest US-China tensions.
RBA Assistant Governor Economic Luci Ellis: Progress on unemployment will be slower
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