The Reserve Bank says the economic impacts of the Covid-19 restrictions will be substantial
The Reserve Bank says the economic impacts of the Covid-19 restrictions will be substantial
6 May 2020
It estimates reductions to Gross Domestic Product could be as high as 37 percent during level four - but drop to only four percent at level one.
The central bank says the effects aren't uniform across the economy, with sectors like tourism much more heavily affected.
The estimates will help the Reserve Bank prepare for this month's Monetary Policy Statement.
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