Australian PM Morrison: Expect strong Q4 economic recovery if Sydney comes out of covid lockdown
|Australian Prime Minister Scot Morrison rolls out an outline of the covid restrictions in the country while expressing his take on the economic outlook.
Key quotes
80% of adult population needs to be fully vaccinated before considering reopening borders.
Those vaccinated will have "special rules" applied to them.
That considering they pose a lesser health risk to the community.
Phase A as is the current situation.
Phase B is when 70% of the vaccine-eligible population is fully vaccinated both nationally and, in that state,/territory.
Phase C is when the fully vaccinated target hits 80%.
Only when reaching Phase C it can lead to extension of "travel bubbles" with other candidate countries.
If health advice changes on vaccinating children will refresh reopen plan accordingly.
Have not set a timetable for hitting COVID-19 vaccination targets.
I believe we can hit 70% vaccination rate by year-end.
Expect strong economic recovery in Q4 if Sydney comes out of COVID-19 lockdown.
AUD/USD reaction
Amid fresh US dollar selling, AUD/USD is testing offers around 0.7400 once again. The spot has erased earlier losses and trades flat on the day.
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