Regrettably, the COVID pandemic took a turn for the worse in Australia, with higher community transmission and consequential societal and business restrictions and lockdowns. This has caused some meaningful reduction in present economic activity, though a clearer roadmap to reopening and recovery is now apparent, likely leading to a sharp rebound in activity in 2022.

The Reserve Bank of Australia (RBA) conducts monetary policy meetings on the first Tuesday of each month. The pronouncements and policy settings from these meetings have become increasingly important due to the RBA’s particularly aggressive monetary actions and interest rate control interventions. 

More than half a year has passed since the global pandemic wreaked havoc in societies and financial markets worldwide. Regrettably, the virus remains virulent so has slowed the pace of economic recovery and caused a multitude of social implications to remain prominent. The path towards a vaccine seems promising, with more than 130 projects globally, funded almost limitlessly, with accelerated clinical trial processes. A rapid rebound in consumer confidence and associated economic activity is expected should a successful vaccine become widely available.