Reserve Bank of Australia Governor Lowe spoke with Australian TV, ABC, to be aired later Monday.
Lowe:
- "we shouldn't be worried" about government debt
- "It's the right thing to do... we have the capacity to borrow, our interest rates are as low as they've ever been, the Australian Government has a long record of responsible fiscal policy, so the budget accounts are in reasonable shape. And if ever there's a time to borrow, now is it"
Lowe gave the government early warning of his moves in March:
- "I gave an outline to them of my thinking, and they've done exactly the same with me"
---
Australia's response to the health aspects of the crisis has been successful when place din an international context. The response continues, a lockdown that's not quite as extreme as New Zealand's
,
The success of the economic response remains to be seen.
