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Energy Bills Expected to Increase as Australians Stay Home More

The average household in Australia would be paying an additional $88 monthly for their energy bills as more people are staying in their homes, said Mozo – the country’s leading financial analyst. With the lockdown expected to last for six months, Mozo projects energy costs will double by an additional $527 in total. Charges will reach $1,582 in average if …

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Loan Repayments Deferred by Banks for 6 Months

This morning, major financial centres in Australia have extended their business relief package by deferring an extra $100 billion worth in business loan repayments. An additional 30,000 commercial landlords will now be eligible for a support coverage in an attempt to relieve the adverse effects caused by the COVID-19 outbreak. The announcement came right after banks announced a six-month deferral …

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7 Stimulus Measures Australians Must Know About

Stimulus measures help boost the economy during a crisis. However, the experts think the previous $17.6 billion was not sufficient enough. Australians are losing their jobs, and the RBA’s cash injection was only to provide low-interest bank loans for businesses. For this reason, the federal government presented a new coronavirus response package, bringing the combined stimulus of $189 billion. It …

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Australia’s Small Businesses Get Support from Government, Big Banks

CANBERRA, Australia – Australia’s Federal Treasurer Joshua Anthony Frydenberg has confirmed that the Commonwealth Government and the country’s banking sector will aid small businesses. The latter are local enterprises that the coronavirus pandemic has severely affected lately. Australian news outlet 9News reported that Frydenberg affirmed that a second stimulus from the Australian Government is coming. Moreover, the Treasurer of Australia …

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Commonwealth Bank of Australia Assures Clients of Continued Support

NEW SOUTH WALES, Australia – The Commonwealth Bank of Australia has expressed that it is continuing the provision of supportive services to its clients amid the coronavirus pandemic. The multinational lender affirmed that it is taking the necessary precautions in each of their branches. In this manner, they get to safeguard the well-being of their workers and clients, according to …

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Australian Stock Market Falls 7.3 Percent Amidst Global Epidemic

The Australian stock market has now seen the worst since the 2008 financial crisis. Fears over a complete global epidemic have wiped $140 billion clean off the market, signalling the beginning of Australia’s recession. The ASX200 drops to 5,760.6 from 7.3 percent with a compounding three percent plunge last Friday after a steep fall in crude oil prices and the …