Friday, May 8, 2020

Jobless rates surges to 10pc, growth slides by 8pc - grim Reserve Bank downgrades forecasts. ME Bank backs down on loan redraw limit controversy

There's been a grim reality check on the economy from the Reserve Bank which see GDP growth going backwards by 8 percent in June as the pandemic locks down the nation. 

The official jobless rate will rise to 10pc in June with inflation turning negative consumers cut their spending.  

Also - ME Bank in backdown on loan redraw shock that damages bank's reputation.







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