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9/14, 6:12 AM (Source: TeleTrader)
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Delta strain delayed, not derailed recovery - RBA gov

Reserve Bank of Australia (RBA) Governor Philip Lowe (pictured) said that that the new more contagious Delta variant of coronavirus is a "significant" setback for the recovery of the Australian economy but that it has not derailed said recovery completely.

Speaking at the ANIKA Foundation, the governor explained that the central bank sees a return to strong growth sometime next year and that there is a "clear path out of current difficulties."

"This is a major setback, but it is likely to be only temporary. We expect the economy to be growing again in the December quarter, with the recovery continuing into 2022," Lowe noted.

Breaking the News / NL