Economy

Australia’s lenders will enable small-business customers to defer their loan repayments for six months in response to the economic fallout from the coronavirus outbreak.

The SME bank has signed a fully committed $350-million three-year debt facility with a global banking corporation.

The central bank has pulled its emergency lever, pre-emptively cutting the cash rate to a historic low in response to the economic fallout from the coronavirus pandemic.

The ratings agency is forecasting an uptick in home loan delinquencies over the coming months, with analysts now expecting COVID-19 to “tip the economy into recession”.

The major lenders have been reassuring customers and stakeholders of the stability of the big banks despite challenges relating to the COVID-19 pandemic.

Australia’s GDP growth is likely to be “noticeably weaker than previously expected”, the RBA has said, ahead of an emergency monetary policy board meeting scheduled for this Thursday

The coronavirus outbreak could prompt the central bank to make an out-of-cycle rate cut later this week, and decrease house prices, according to a survey of economists.

The state government will inject approximately $2.3 billion into the NSW economy to support the community as it grapples with new challenges posed by the coronavirus outbreak.

The non-major has rolled out a range of support measures for customers affected by the coronavirus.

Auction markets across Australia remain strong despite coronavirus concerns, but housing activity could reduce over the coming weeks as the coronavirus outbreak becomes more widespread, ...