RBA holds rates even as economic hit from virus widens

5/05/2020 7:33:00 AM

Breaking: The Reserve Bank of Australia has held official interest rates at a record-low 0.25 per cent

Breaking: The Reserve Bank of Australia has held official interest rates at a record-low 0.25 per cent

The bank's decision to keep the cash rate at 0.25 per cent came as Treasurer Josh Frydenberg said while the government's programs were supporting the economy, there would be tough periods ahead.

Larger text size Very large text size The Reserve Bank has held official interest rates at 0.Very large text size Beijing: From the United States to Europe and Asia, people in many parts of the world are emerging from their homes as virus-related restrictions begin to ease and springtime temperatures climb.Very large text size Beijing: From the United States to Europe and Asia, people in many parts of the world are emerging from their homes as virus-related restrictions begin to ease and springtime temperatures climb.Very large text size Geneva: The World Health Organisation's emergencies chief said on Monday that it has received no evidence from the US government to back up allegations by President Donald Trump and Secretary of State Mike Pompeo that the coronavirus could have originated at a laboratory in the Chinese city of Wuhan.

25 per cent even as signs grow the economic hit from the coronavirus pandemic is widening.Following the bank's regular monthly meeting, governor Philip Lowe confirmed the RBA was sticking with the record-low cash rate it set at the start of the pandemic.India on Sunday reported more than 2600 new cases, its biggest single-day jump.RBA governor Philip Lowe.That followed record increases in neighbouring Pakistan and Russia the previous day.The bank will on Friday release its quarterly monetary policy statement containing its key forecasts about the state of the economy.People filling the street in Barcelona on Saturday, able to exercise for the first time in months.Credit: Alex Ellinghausen While Dr Lowe has signalled on several occasions 0.Advertisement The comments come as the Trump administration has denounced both China and the UN health agency for alleged missteps in handling the outbreak that first emerged in the city of Wuhan and has now infected millions and killed at least 239,000 people.

25 per cent is as low as the bank is prepared to take official rates, financial markets had put the chance of a cut on Tuesday at 60 per cent.Nearly 1.Nearly 1.The same markets believe the RBA's cash rate will still be at 0.25 per cent by October next year.Many spots limited the number of daily visitors to 30 per cent of capacity or less, keeping crowds below average.The RBA will on Friday release its quarterly monetary policy statement containing its key forecasts about the state of the economy including GDP, unemployment, inflation and wage growth.Advertisement Masks were worn widely, from runners in Spain to beach-goers in the southern United States.They are expected to show the bank preparing for the worst quarterly performance by the economy on record.In New York City's Central Park, joggers moved past each other without a glance on Saturday, and a steady stream of folks left tips for a trio working their way through a set of jazz standards alfresco." On Sunday, Pompeo told ABC's This Week program that there was "a significant amount of evidence that this came from that laboratory in Wuhan.

Advertisement Treasurer Josh Frydenberg, addressing the National Press Club on Tuesday, said while the government's programs were supporting the economy, there would be tough periods ahead.Loading "Notwithstanding Australia's progress to date on the health front and the unprecedented scale and scope of our economic response, our economic indicators are going to get considerably worse in the period ahead before they get better," he said."All my dates have been cancelled through September, and I don't know if any will come back this year."All my dates have been cancelled through September, and I don't know if any will come back this year.It follows continuing signs of the economic hit being taken by the country as it deals with the coronavirus pandemic.New car sales in April crashed to just 38,926, down more than 48 per cent on the same time last year and the worst April result on record." Shoppers in Vienna wait to get into a Zara clothing store opening for the first time since the government imposed restrictions to slow the spread of coronavirus.The Australian Industry Group-Housing Industry Association's construction index, released earlier on Tuesday, showed a fall of 16.Credit: Getty Images Neighbouring New Jersey reopened state parks, though several had to turn people away after reaching a 50 per cent limit in their car parks."If this is projected as aggressive investigation of wrongdoing, then I believe that's much more difficult to deal with.

3 points in April to a record low of 21.Margie Roebuck and her husband were among the first on the sand at Island Beach State Park.6.A reading above 50 indicates the sector is expanding.In Spain, many ventured out Saturday for the first time since a lockdown began on March 14.In Spain, many ventured out Saturday for the first time since a lockdown began on March 14.Apartment building and commercial construction fell heavily through the month while overall activity, employment and new orders reached record lows..You sure notice that it has been a month and I am not in shape," Cristina Palomeque said in Barcelona." WHO heaped praise on China from early on in the outbreak.

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No surprise Where is 0.1% like in UK 🇬🇧 It’s not like they have heaps of room to move. The RBA is pretty much redundant now. Out of ammo, out of ideas. Well done.

'Forty-six days was enough': People across the globe emerge from lockdownFrom the US to Europe and Asia, people in many parts of the world are emerging from their homes as virus-related restrictions begin to ease. But the global pandemic is taking a turn for the worse elsewhere. Yes, yes good sheep. Mingle and associate so Big Brother can usher in phase 2, aka the 'second wave'. Further lock-downs, harsher restrictions and more widespread testing (schools) to help further inflate the numbers of this perpetual boogeyman. You'll be begging for the needle. 👍 So sick of mainstream media lies. Just f*ck off. We don’t believe in this scam anymore (well I never did).

'Forty-six days was enough': People across the globe emerge from lockdownPeople in many parts of the world are emerging from their homes as virus-related restrictions begin to ease, even as the global pandemic took a turn for the worse elsewhere.

WHO says virus link to Wuhan lab 'speculative'The comments come as the Trump administration has denounced both China and the UN health agency for alleged missteps in handling the outbreak. Of course it’s speculative. Why calls for an independent investigation are so important. Wrong. They knew that there was some funky goings on early on. At least, the people did. Maybe not the CCP, as they aren't in the business of looking too hard into things that cast a bad light on the party. Much like the WHO. A veritable Schrödinger box of contradictory opinions. 😂😂😂😂😂😂🤦‍♂️

Death's dividing line: coronavirus in Italy never a national outbreakThe virus has left of trail of suffering in the country's north, where deaths in one city have skyrocketed nearly 570 per cent. BevanShields Interesting difference in air pollution levels over Northern and Southern Italy. Australia has so far dodged a potential catastrophe given our recent bushfire smoke air pollution levels.

In France, a nursing home takes on COVID and wins'I said, 'No. Not mine. My residents still have so much to live for,'' For 47 days and nights, staff and residents of the Vilanova nursing home on the outskirts of the east-central city of Lyon waited out the coronavirus storm together

Elimination of COVID-19 possible in Victoria if lockdown enduresMaintaining the restrictions and border lockdowns could lead to the virus being eliminated, rather than suppressed, epidemiologists say. So after piling on Andrews over the past couple of days, change of tact by Nine Media. I wonder what could have brought this on 🙄 Yes they have been lying Don't overwhelm icus done There is no plan they lack transparency and the laws are stupid with no medical evidence We did this to flatten the curve and let hospitals cope . Total lie . What unrealistic goal does he have in mind ? Total destruction of the economy for some unattainable goal ?