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Worse than the Great Depression: IMF
ELIZA BAVIN  |  WEDNESDAY, 15 APR 2020
The International Monetary Fund has predicted Australia's GDP will be -6.7% this year due to the effects of COVID-19.
Chief economist update: How deep the global recession?
BENJAMIN ONG  |  WEDNESDAY, 15 APR 2020
Looking back at the IMF's forecasting history during the GFC, as late as October 2009 it predicted world GDP to decline by 1.1%. As it turned out, world economic growth contracted (based on IMF data) by 0.7% in 2009.
Chief economist update: BOK holds as infections ease
BENJAMIN ONG  |  TUESDAY, 14 APR 2020
Positive developments in South Korea's fight against COVID-19 may have eased its central bank's emergency response, but the virus will still make its mark on the economy.
Australia's AAA rating at risk
ELIZA BAVIN  |  THURSDAY, 9 APR 2020
S&P Global Ratings revised Australia's AAA credit rating outlook to negative in the wake of the economic impacts of COVID-19.
Economic impact worst since WWII: Research
HARRISON WORLEY  |  THURSDAY, 9 APR 2020
The economic impact of the COVID-19 pandemic is the biggest shock to the Australian economy since World War II, according to Roy Morgan.
Chief economist update: Credit ratings downgrades versus fiscal salvation
BENJAMIN ONG  |  THURSDAY, 9 APR 2020
Japan's credit rating will certainly take a hit but its increased fiscal measures could save the economy.
Chief economist update: COVID-infected Aussie stats trickle in
BENJAMIN ONG  |  WEDNESDAY, 8 APR 2020
To paraphrase Philip Lowe, Australia may not be able to avoid a recession this time, but the coordinated monetary and fiscal response should keep it shallow.
A coronavirus-bitten cat bounce?
BENJAMIN ONG  |  TUESDAY, 7 APR 2020
Statistical evidence that the rate of deaths and infections from the coronavirus had been slowing have heartened equity market investors everywhere - from New York to Rio and ol' London town - underscored by the surge on Wall Street overnight.
Chief economist update: Different contagion, same fiscal policy divide
BENJAMIN ONG  |  MONDAY, 6 APR 2020
The ECB fought the threat of contagion from Grexit and won. Eurozone member governments must band together to win against the coronavirus contagion if they are to preserve the unity of the single-currency grouping.
US faces deepest recession on record
ALLY SELBY  |  FRIDAY, 3 APR 2020
The US is facing a COVID-19 triggered recession that will be the worst on record, according to Bank of America economists.
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