BREAKING: Interest rates remain on hold as the RBA looks at the economic fallout of coronavirus.
Twenty per cent of staff working in medium or large firms had been stood down or forced to go on leave without pay.
RBA governor Philip Lowe, following a board meeting at which the official cash rate was kept at 0.25 per cent, said there was "considerable uncertainty" about the Australian economy and much depended on the time it took to control the virus and how long social-distancing measures remained in place. He made clear the RBA would not be lifting interest rates until progress was made towards "full employment", which he has previously indicated is a jobless rate of around 4.5 per cent.
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