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Factbox: The economic remedies for the coronavirus

Factbox: The economic remedies for the coronavirus

(Reuters) - Policymakers have taken a range of approaches to deal with the economic fallout from the coronavirus, from emergency interest rate cuts and big spending packages to a wait-and-see-stance and pledges of action if required. Here is a list of how some of the world’s biggest economies and economic blocs have reacted. (Graphic: Central bank

Unshackled by EU, countries have fiscal freedom to fight coronavirus

Unshackled by EU, countries have fiscal freedom to fight coronavirus

BRUSSELS (Reuters) - The European Union is giving governments all the fiscal leeway they need to individually deal with the economic impact of the coronavirus and may decide on a more concerted stimulus if the economy suffers severely, officials said on Thursday. The decision, the latest by policymakers around the world to open state spending taps

EU grants governments fiscal leeway to fight coronavirus impact, eyes more

EU grants governments fiscal leeway to fight coronavirus impact, eyes more

BRUSSELS (Reuters) - The European Union is giving governments all the fiscal leeway they need to individually deal with the economic impact of the coronavirus and may decide on a more concerted stimulus if the economy severely suffers, officials said on Thursday. EU finance ministers discussed on Wednesday a response to the impact of the epidemic on

There are ‘a few problems with Labor’s recession attacks’

There are ‘a few problems with Labor’s recession attacks’

Sky News host Chris Kenny says the Labor Party “is actively talking up” the chances of a recession and is “positioning itself” to blame the Morrison government if that comes to fruition. The RBA this week slashed interest rates to a record low of just 0.5 per cent in a bid to limit the economic impact of the coronavirus threat. The cut, being the

Treasury forecasts 0.7 percent hit to economy

Treasury forecasts 0.7 percent hit to economy

Australians are being warned the economic of coronavirus will be felt until at least the middle of the year after the Treasury announced a forecasted hit of 0.7 per cent to the GDP following the bushfires and the coronavirus pandemic. The economy is almost guaranteed to contract in the March quarter with fears the negative growth could spread to the

'We will recover': The coronavirus is set to push Australia towards the edge of recession, but Treasury believes we can avoid the worst

'We will recover': The coronavirus is set to push Australia towards the edge of recession, but Treasury believes we can avoid the worst

Coronavirus is pushing the Australian economy to the edge of recession. (Photo by Fred Marie, Corbis via Getty Images) The Australian Treasury has revealed its analysis of the coronavirus’ economic impact. Noting the bushfires will already wipe 0.2% off the country’s growth, Treasury Secretary Steven Kennedy said the coronavirus increases the “risk

Multi-billion dollar stimulus confirmed

Multi-billion dollar stimulus confirmed

While the global coronavirus crisis worsens, children might be immune from the worst of it. Prime Minister Scott Morrison had rejected calls for a major stimulus package earlier this week. “It will be a targeted plan. It will be a measured plan. It will be a scalable plan. It will be targeted on the real diagnosis of the economic issue we are looking

The government is preparing a massive economic stimulus package, as the coronavirus threatens to hurl Australia into recession

The government is preparing a massive economic stimulus package, as the coronavirus threatens to hurl Australia into recession

Getty Images The Morrison government harbours real fears Australia is at risk of falling into recession from the coronavirus, as it prepares a multibillion-dollar economic stimulus package which will focus heavily on tax relief measures. The Reserve Bank of Australia estimates the coronavirus impacts on education and tourism exports has already slashed

Stimulus package planned to head off coronavirus economic crash – politics live

Stimulus package planned to head off coronavirus economic crash – politics live

Mike Baird has left the NAB. That follows some pretty strong rumours he is preparing for a run in Zali Steggall’s seat of Warringah. The Liberals have begun plans to take back Tony Abbott’s former seat. Less than a year after the election and the games have already begun. To be clear, there is no confirmation that Baird is running – but the talk has

Treasurer maintains economy is ‘in a position of strength’

Treasurer maintains economy is ‘in a position of strength’

Josh Frydenberg says Australia is going into the "economic shock" - resulting from the spread of the coronavirus - "from a position of strength". "Financial markets remain stable and open and both fiscal and monetary policy is being used to support those economies," Mr Frydenberg told Sky News Australia on Thursday. The Treasurer continued to take