Reserve Bank of Australia's Bradley Jones, Head of Economic Analysis, is speaking at the Minerals Week Australia-Asia Investment Outlook
- sees reasons to hope pandemic will not cause much "economic scarring" in Australia
- premature to completely rule out possibility of an overhang of cautious behaviour by households and firms
- encouraged that economic activity has snapped back after pandemic restrictions lifted
- speed of the recovery in activity and labour market bears little resemblance to past downturns
- says many household, business balance sheets in better shape than before the pandemic
- optimistic scenario consistent with surprising strength of recovery to date
Upbeat commentary - AUD barely moved.
