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Australian PM Morrison says cost of new coronavirus outbreak to the economy will be circa $7-$9b in Q3

August 06, 2020 at 02:49AM

Australian PM Morrison says cost of new coronavirus outbreak to the economy will be circa $7-$9b in Q3
Estimates of the cost of the Victorian stage 4 restrictions cited by the PM are those via Treasury
– unemployment likely to hit 10%
– effective unemployment rate expected to get up close to 14% (in the high 13s)
The Australian dollar is down just a few tics. 

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