Economics
Australia Unleashes $14 Billion Jobs Support, RBA Backs Move
- Wage subsidies extended for six months, albeit at lower rate
- Lowe welcomes extension, says early withdrawl would be mistake
A woman walks along a deserted lane in the Queen Victoria Village precinct in Melbourne on July 16.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
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Australia will pump a further A$20 billion ($14 billion) into supporting jobs, as central bank chief Philip Lowe warned of a drawn out recovery while the health crisis remains.