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Reserve Bank Prints New Money: What It Means?

On March 19, The Reserve Bank of Australia cut down rates to 0.25 per cent right after the federal government announced the initial stimulus package, which included a bond-buying scheme. Hence, the RBA kept the interest rates at a historic low, saying that it was necessary. It predicted that the country would experience a massive economic contraction in the next …

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Oil Prices Decline, Collapsing MENA Region Economies

Oil prices in the global market plunged drastically, dragging the economy in the Middle East to an unavoidable economic crunch. The novel coronavirus pandemic, otherwise known as COVID-19, has weakened the oil consumption in the past few weeks. With almost the entire world in quarantine, petrol has not been in demand as it used to be. To add ‘fuel to …

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Australian Prime Minister Orders Nationwide Lock-Down

Australian Prime Minister Scott Morrison orders a partial lock-down across the country starting midday tomorrow, Monday. On Sunday, the PM met with the National Cabinet – composing of territory and state leaders – to talk over measures to curb the spread of coronavirus as cases rose to 1,354. These new rules follow after most Australians continue to ignore instructions for …

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Second Stimulus Package: What Australians Should Expect

A second stimulus package is currently in consideration after Australian Prime Minister, Scott Morrison, announced a cash injection amounting to $17.6 billion on Thursday last week. Reports say the PM is discussing with Finance Minister Mathias Cormann and Treasurer Josh Fydenberg the possibility of supplementing the previous package as the COVID-19 pandemic worsens. The first package includes a $4.76 billion …

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KPMG: Keep Calm, Trust the Government’s $17.6-B Emergency Stimulus

SYDNEY, Australia – KPMG Australia has issued a report today containing their insights about the coronavirus pandemic. The advisory services provider affirmed that the disease, also known as COVID-19 is a serious hazard to the well-being of the members of the Australian society. The company said that the people, therefore, need to look after themselves, their family members, their friends, …

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Government Stimulus Package: PM’s Hope Amid Coronavirus

The government stimulus package for the year 2020 will help prevent a total economic fallout after the coronavirus outbreak wreaks havoc on the stock market this week. The fiscal policy, which could be around $10 billion, will include one-time payments for pensioners, small business owners, and Newstart recipients to prevent job loss and continue the market cash flow. Scott Morrison, …