Jacqueline Barton

Economic Update Video – August 2020

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The government’s July budget update gave an insight into the economic impact of the health crisis.

The economy contracted by an estimated 0.25% in 2019-20, with a further fall of 2.5% in 2020-21.

The budget deficit is estimated to be:

  • $85.8 billion in 2019-20 (4.3% of GDP; and
  • $184.5 billion in 2020-21 (9.7% of GDP).

This would be the biggest deficit as a share of GDP since 1946 in the aftermath of WWII.

The current cash target rate of 0.25% has been left unchanged.

 

Economic Update Video – May 2020

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Data released in April provided an early insight into the impact of the coronavirus on the Australian economy, below is a video to assist you to stay up to date with the latest indicators.

After a month of social and economic hibernation, there are signs that some of the restrictions will soon be loosened somewhat. This is welcome news for households, businesses and our economy.

Global markets continued to react to the ongoing situation with volatility.

The cash rate for May has been left unchanged. At 0.25% the cash rate is currently considered to be at its effective lower bound.