Closed Down Under
Posted: Thu Mar 19, 2020 11:45 am
The Reserve Bank of Australia slashed interest rates in an out-of-cycle cut to an all time low and embarked on a quantitative easing programme for the first time, while the government unveiled A$15 billion in loan support for small and medium lenders.
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Australia has recorded around 600 coronavirus infections and six deaths, a relatively small number compared to other countries, but officials are growing increasingly concerned about the prospect of an exponential rise in cases.
Australia has banned non-residents from entering their country (a.k.a. closed the border) based on a "prospect". Note that this ban will also include 100B ($56B us) pumped into economy.
This sounds like a familiar strategy, but I just can't place it...anyone else know of any other nation doing as much?
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Australia has recorded around 600 coronavirus infections and six deaths, a relatively small number compared to other countries, but officials are growing increasingly concerned about the prospect of an exponential rise in cases.
Australia has banned non-residents from entering their country (a.k.a. closed the border) based on a "prospect". Note that this ban will also include 100B ($56B us) pumped into economy.
This sounds like a familiar strategy, but I just can't place it...anyone else know of any other nation doing as much?