The Down Under Debrief: First Edition August 2020
By
Su-Lin Ong
Published August 7, 2020
|
7 min watch
A monthly video series focused on the Australian economy
In this edition of the Down Under Debrief, Su-Lin Ong, Managing Director, Chief Economist & Senior Relationship Manager, RBC Capital Markets discusses the Victorian COVID-19 outbreak and the implications for the economy as well as policy makers.
Su-Lin also highlights four items she is watching closely: confidence, risk to New South Wales, increasing burden on fiscal policy and the labour market.
The Australian recovery has suffered a set back with the COVID-19 outbreak in Victoria
Business and consumer confidence have largely mapped the trajectory of the virus and restrictions since February
There has been limited spread across the border to New South Wales however, we are watching the daily infection rates closely
Fiscal policy needs to do more of the heavy lifting and is far more effective in assisting a fragile and uncertain recovery
Hours worked, underemployment and participation numbers depict a much weaker labour market than the current unemployment rate
This video is part of our monthly economic series The Down Under Debrief, with ad hoc reports brought to you as current.
© RBC Capital Markets, LLC, RBC Dominion Securities Inc., Royal Bank of Canada, RBC Europe Limited 2020
Su-Lin Ong
Managing Director, Chief Economist & Senior Relationship Manager, RBC Capital Markets
Su-Lin Ong is a Managing Director of RBC Capital Markets, Chief Economist & Senior Relationship Manager. She has led the Economics & Fixed Income Strategy team for Australia and New Zealand since 2010 and was Head of Australian research between 2015 and 2019.
Su-Lin is part of RBC’s global strategy team with responsibility for formulating and presenting the Australian macroeconomic outlook, cash rate view and bond yield forecasts. Prior to joining RBC in 1998, Su-Lin was a fixed income economist for Hambros Bank and before that worked as an economist at the Department of Prime Minister and Cabinet in Canberra. She holds a Bachelor of Economics from University of Sydney, post graduate in Applied Finance and Investment from the Securities Institute of Australia, is a Fellow of FINSIA, and graduate of the Australian Institute of Company Directors. She sits on the boards of Women in Banking & Finance and The Australian Business Economists.
AustraliaCOVID-19ConfidenceCoronavirusEconomicsFiscalMacro
