Australian Economic Downturn Might Not Be So Severe

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

The economic downturn from COVID-19 may not be as severe as predicted, Reserve Bank boss Philip Lowe says.

Lowe has told a Senate inquiry Australia’s recovery largely depends on when the public regains its confidence in their health and finances.