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How to take advantage of your banking options during COVID 19

Many Australians have started to budget for the next 6 months. Given that the Australian economy is in recession as a result of COVID 19, it’s wise to take advantage of every hand out or financial opportunity. 

Michelle Baltazar, the editor-in-chief of Money, recently evaluated each bank initiative available during COVID 19.  In the same article she also questions, could lenders do better given the dire (and ongoing) circumstances? Read on to find out How to take advantage of your banking options during COVID 19.

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Reserve Bank argues a V-shaped economic recovery is still “plausible”

The Reserve bank have offered a glimmer of hope despite the significant national debt Australia may find itself in post COVID 19. The Reserve Bank argues an economic rebound may still be plausible, but with a warning that a lot hinges on the return of household and business confidence after restrictions are eased.

Scott Morrison recently announced his three-step plan for Australia to reduce restrictions and stimulate the economy with the re-opening of various industries.

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What is the government’s economic response to COVID-19 so far?

What is the government’s economic response to COVID-19 so far?

In an act to help the Australian economy try to withstand the effects of COVID-19, the government has released a series of initiatives aimed at aiding those in need. The aim is to keep businesses afloat and individuals will becompensated to help everyone get ‘back on track’ as quickly as possible post virus. Although, we have yet to know when this time may be.

The government website is being updated daily with advice on benefits and new opportunities for those struggling during this time.

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