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economic contraction

Tuesday, December 05

A world of difference - Reserve confronts an economy in free-fall

The Reserve Bank of Australia will hold its monthly board meeting faced with a vastly different set of circumstances than when they last gathered early in July.

Brisbane consumers clam up as banks tip contraction

Sydney’s lockdown was likely to force the nation into a sharp economic contraction with consumer confidence in cities like Brisbane already feeling the impacts.

Commonwealth Bank CEO Matt Comyn. (Photo: AAP Image/Dean Lewins)

Pandemic hits Comm Bank, profit dives as it warns of longer recovery

The Commonwealth Bank’s profit has been slashed by 11 per cent to $7.3 billion for the 2020 year.