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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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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 …