Australia’s Treasurer Frydenberg: Will now allow low-interest rate loans of up to $1 million up to 5 years
|Australian Treasurer Josh Frydenberg crosses wires, via SkyNews, during the weekend. The diplomat provided hints of the Aussie government’s upcoming stimulus to combat the coronavirus (COVID-19).
Key quotes
Will now allow banks to provide low-interest rate loans of up to $1 million for terms of up to 5 years.
FX implications
Because the government help earlier had a time period of 3-years and that too up to $250,000, the news seems to help the AUD/USD pair. As a result, the quote manages to ignore the spike in Victoria’s cases by an upward swing from 0.6984 to attack 0.7000 by the press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.