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Upbeat RBA Could Fuel Australian Dollar Strength
RBA Governor Philip Lowe’stestimony to the Senate Select Committee on COVID-19 praised the performance of the central bank’s mid-March emergency package and its assistance in ‘building the necessary bridge to the recovery’. The success of ‘flattening-the-curve’ of COVID-19 infections in Australia has led to ‘national health outcomes better than earlier feared’ and may result in an ‘economic downturn not as severe as earlier thought’. Outlining that the path for recovery will be dependent on ‘how quickly confidence can be restored’ the Governor may be pleased by the record rebound of the ... (full story)