Business News

Fri Aug 7

Reserve Bank no longer confident of quick bounce out of recession

Written by: Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

Olga Kashubin/Shutterstock

The good news in the Reserve Bank’s latest quarterly set of forecasts is that the recession won’t be as steep as it thought last time.

The bad news is it now expects ultra-weak economic growth to drag on and on, pushing out the recovery and meaning Australia won’t return to the path it was on for years if...

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