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Australia’s Economy To Recover Slowly: RBA

Australia’s economy is set to log a slow recovery given the ongoing spread of the coronavirus and the response to contain it, the Reserve Bank of Australia said in its Statement on Monetary Policy, released Friday. According to baseline scenario of RBA, GDP is expected to contract by around 6 percent over the year to December 2020, but then grow by around 5 per cent over 2021.
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