Australia Economy Shrinks as Recession Looms

The transcript discusses the economic downturn, highlighting a negative quarter and significant job losses. It explores recovery prospects, noting that easing restrictions may help but unemployment is expected to peak in the coming years. The role of fiscal and monetary policies is examined, with a focus on the RBA's stance on interest rates. Trade tensions between Beijing and Canberra are also discussed, along with their impact on exports. The debate on negative interest rates and the strength of the Aussie dollar are analyzed, considering their effects on the economy.

What is the significance of fiscal and monetary policy in the current economic situation?

What are the potential consequences of withdrawing job support programs?

How do trade tensions between Beijing and Canberra impact the economy?