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Aussie’s new low and US ‘Helicopter’ Money

Wednesday 18th March 2020

Okay, it might not meet the technical definition of helicopter money, but President Trump is hoping to land $1,000 into the bank accounts of most Americans in the next two weeks. He gave the news at a press conference around the time that the UK’s Chancellor Rishi Sunak was promising extended loans to business and a three-month mortgage holiday for some. Phil Dobbie asks NAB’s Ray Attrill which approach will work best, with Ray suggesting that both approaches show governments are taking the threat to their economies seriously and changes are fast moving. Perhaps that’ll stabilise equity markets. Meanwhile the Aussie dollar has fallen below the post GFC low, not helped by the continuing argy-bargy over oil.

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