Australian Treasurer Frydenberg: Recession will dampen participation, productivity
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“The budget coming up on October 6 will be addressed at a 'unique' recession, said Australian Treasurer Josh Frydenberg while speaking at a news briefing in Canberra this Thursday.
Additional quotes
“Strategy is for a focus on a jobs-led recovery.”
“Recession will dampen participation, productivity.”
“Medium-term budget position to weaken.”
“Australia to have a lower level of prices, wages.”
Market reaction
The above comments failed to move the aussie, as AUD/USD licks its wounds around 0.7075, finding some support from the bounce in the S&P 500 futures.
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