Welcome to our May publication. After an extraordinary month of social and economic hibernation, there are positive signs that some of the restrictions on our everyday lives will soon be loosened somewhat. This is welcome news for households, businesses and our economy.
Within a matter of months Australia has gone from having an essentially healthy economy to one in need of resuscitation. The Morrison Government has stepped in with unprecedented support packages for individuals and businesses. And the Reserve Bank is playing its part behind the scenes with ‘unconventional measures’ of its own.
In this snapshot, we look at record low interest rates and quantitative easing and explain what it means for you.
To keep you up to date with the latest Government announcements and initiatives that will impact your financial situation throughout the COVID-19 pandemic and recovery, we have added a ‘News Bites’ digital newsletter to this communication.
In this edition we will cover the following topics:
- Support for business investment
- Boosting cash flow for employers
- Economic stimulus package: what it means for pensioners
As always, please feel free to reach out to your adviser if you need any support or guidance.