CANBERRA (CU)_Following the Reserve Bank of Australia’s monthly board meeting in early July, Governor Phillip Lowe expressed hope for a “positive path” following the COVID-19 pandemic, as the economy began to recover from last year’s recession at a rate stronger than expected. However, four weeks later, this outlook has darkened, as experts project a sharp economic contraction in the third quarter of this year. This is primarily on account of the pandemic-induced lockdowns that have been imposed in several states in the country, as Australia has been reporting a spike in Coronavirus infections over the recent weeks.
The restrictions are expected to have billion-dollar blow…
