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Reserve Bank emails reveal COVID-19 economic fears, JobKeeper confusion – ABC News

Head inside the Reserve Bank as internal texts and emails reveal the depth of staff fears for unemployment as coronavirus smashed the economy in March.

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While Reserve Bank staff always present a calm message to the public, previously secret internal emails reveal just how concerned many of them have been about the economic fallout from coronavirus.
Key points:

  • RBA economists were initially worried that 2.6 million people might lose their jobs, before JobKeeper was announced
  • The bank’s analysts were also concerned that more than half of casuals made unemployed would not even get Newstart benefits
  • It appears the bank was …

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