Coronavirus threatens Australian economy reeling from drought and fires
The coronavirus outbreak may further hurt an economy already suffering from bushfires and drought, the governor of the Reserve Bank says.
In a speech to the National Press Club in Sydney, Philip Lowe said the RBA was closely monitoring the economic effect of the epidemic, which has killed more than 490 people.
He said the effect of the coronavirus outbreak on the Australian economy could be worse than that of the 2003 Sars epidemic because “China is a larger part of the global economy and it is more closely integrated, including with Australia”.
Read more: https://www.theguardian.com/business/2020/feb/05/coronavirus-threatens-australian-economy-reeling-from-drought-and-fires
In a speech to the National Press Club in Sydney, Philip Lowe said the RBA was closely monitoring the economic effect of the epidemic, which has killed more than 490 people.
He said the effect of the coronavirus outbreak on the Australian economy could be worse than that of the 2003 Sars epidemic because “China is a larger part of the global economy and it is more closely integrated, including with Australia”.
Read more: https://www.theguardian.com/business/2020/feb/05/coronavirus-threatens-australian-economy-reeling-from-drought-and-fires
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