SYDNEY: Australia’s central bank would be prepared to take policy action should coronavirus lockdowns across the country threaten a deeper economic setback, minutes from its August meeting showed yesterday. Yet minutes showed it would also continue to review the bond-buying plan as the health situation developed. “The board would be prepared to act in response to further bad news on the health front should that lead to a more significant setback for the economic recovery,” the minutes showed. Since then, the news has been consistently bad as lockdowns spread from Sydney to the capital of Canberra, and a further 2,500 kilometers to the Northern Territory. “Under these estimates the Australian economy grows by 2.4% in 2021, down from 3.2% in our earlier forecast,” said Evans.
