Australia should borrow at today's low rates to pay for job creation – RBA chief

The federal government should borrow now while interest rates are at historic lows to pay for the job creation needed to combat soaring unemployment in a coronavirus-ravaged economy, the Reserve Bank of Australia governor, Philip Lowe, has said.

Appearing before a parliamentary inquiry on Friday, Lowe painted a grim economic picture, saying recovery would be delayed because of a second wave outbreak in the country’s second-biggest state, Victoria.

Read more:https://www.theguardian.com/australia-news/2020/aug/14/australia-should-borrow-at-todays-low-rates-to-pay-for-job-creation-rba-chief