Australia is set to undergo a very material contraction over the first half of the year, the minutes of the monetary policy meeting of Reserve Bank of Australia showed on Wednesday.
At the emergency meeting held on March 18, policymakers had reduced the key interest rate by 25 basis points to 0.25 percent and launched asset purchase programme. Policymakers also decided to start a term funding facility to support credit flow to small and medium-sized businesses.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.