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Reserve Bank governor Philip Lowe says credit ratings don’t matter during the coronavirus crisis – ABC News

RBA governor Philip Lowe says state government shouldn’t worry about credit ratings during the current pandemic, they should use their balance sheets to create jobs.

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The Reserve Bank governor, Philip Lowe, says state governments should not be worrying about credit ratings at the moment.
Key points:

  • RBA governor Philip Lowe says state governments could be spending far more
  • The Federal Government has announced measures worth 7 per cent of GDP, the states just 2 per cent
  • Interest rates could remain at 0.25 per cent for three years

He said their priority should be job creation and they should be using their balance sheets to …

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