Australia's economy will need 'considerable' support for some time, Reserve Bank of Australia Deputy Governor Guy Debelle said on Tuesday, adding it would be a 'problem' if the government ended fiscal stimulus in September as initially flagged.
SYDNEY - Australia’s economy will need “considerable” support for some time, Reserve Bank of Australia Deputy Governor Guy Debelle said on Tuesday, adding it would be a “problem” if the government ended fiscal stimulus in September as initially flagged.
The emergency measures have so far been successful in supporting the A$2 trillion economy, though further support will be required, Debelle noted. Treasurer Josh Frydenberg is due to provide an update on July 23 on whether there will be changes to the fiscal package, in particular an extension of support beyond the current end-September due date.
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