A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP
A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP
Tai Hui
Opinion

Opinion

Macroscope by Tai Hui

Coronavirus pandemic could be an economic policy turning point, reconfiguring the public-private nexus

  • The zero-interest rate environment is likely to continue long after the crisis abates and government debt will balloon
  • Governments will have to make difficult decision on which companies to save, without upsetting the principle of market forces

A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP
A man wearing a mask walks past the Reserve Bank of Australia in Sydney on March 19. Australia's central bank cut its benchmark interest rate by a quarter of a percentage point to a record low 0.25 per cent, urgently seeking to alleviate economic shocks from the new coronavirus. Photo: AP
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