Reserve Bank of Australia Welcomes JobKeeper Extension, Encourages Government Spending

Governor of the Reserve Bank of Australia, Philip Lowe, makes a speech on March 19, 2020 in Sydney, Australia. Brendon Thorne/Getty Images

Australian Reserve Bank governor Philip Lowe has welcomed the federal government’s $20.4 billion Jobkeep and JobSeeker scheme extension as being key to bolstering the economic recovery from the crisis-induced by the CCP virus.

During his annual speech to the Anika Foundation on July 21, Lowe supported the government’s decision to keep borrowing money against “future income” to continue its economic stimulus measures.