Reserve Bank Governor Philip Lowe has told a Senate committee the JobKeeper wage subsidy program might need to be extended.
Highlights:
* Demand to extend JobKeeper wage subsidy program beyond September
* Australia's overall COVID-19 cases are 7140 with103 deaths
Mr Lowe says it's too early to know what the economy will be like at the end of September but he stressed the importance of not withdrawing stimulus measures too quickly.
"If we have not come out of the current trough in economic activity, there will be, and there should be, a debate about how the JobKeeper program transitions into something else, or whether it's extended for specific industries, or somehow tapered. It's very important we don't withdraw the fiscal stimulus too early," he said.
Federal Health Minister Greg Hunt says the scheme will be reviewed next month but reiterated the government's previous messages that the measures are designed to be temporary.
While unemployment is predicted to increase in the coming months, COVID-19 case numbers are going in the opposite direction.
Australia's overall case numbers are relatively stable in 7140 and there have been 103 deaths.
People in Australia must stay at least 1.5 metres away from others. Check your state’s restrictions on gathering limits.
Testing for coronavirus is now widely available across Australia. If you are experiencing cold or flu symptoms, arrange a test by calling your doctor or contact the Coronavirus Health Information Hotline on 1800 020 080.
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