Hibernation, but for how long?
Monday 30th March 2020 PM Morrison is set to announce a subsidy for workers, similar to the approach taken by the UK Chancellor. NAB’s Rodrigo Catril says it should help companies remain ready for the rebound, once the COVID 19 pandemic has retreated. The question on everyone’s lips is, how long will that take. In their daily press briefing a few hours ago, the word from the UK government was that the lockdown there could last months. This uncertainty helps explain Friday’s big fall in US stocks, even though President Trump finally added his signature to his $2 trillion economic rescue package.