Reserve Bank of Australia Assistant Governor Ellis QnA
Earlier:
More:
- employment will now not decline as much as forecast
- still a pretty weak outlook given the lock restrictions in state of Victoria
- forecasts assume a vaccine will not be fully distributed next year
- need to get a hold of the virus to get a strong economy, its not a trade off
More still:
- Board has not ruled out doing more
- have not walked away from our inflation target
- may take longer than usual to get inflation back to target
- inability of the US control virus is a concern
- very worried virus will weigh on growth in the US for some time yet
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Ellis' comments on job packages after the Federal government overnight confirmed a boost/extension of the jobs package.