SPTI - Central Bank Week In Review For 6/1-6/5

All central banks face the same situation: domestic economies, which were shut down to stop the spread of the coronavirus, are now in a deep recession. Central banks are steadying credit markets, lowering rates, and taking extraordinary action to support economic growth. The possibility of short-term deflation is more of a threat than inflation.

Last week, three major central banks issued new policies.

The RBA maintained rates at 25 basis points and will keep its bond-buying program operational. Here is its description of the Australian economy emphasis added:

"The Australian economy is going through a

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