The biggest government stimulus program since WWII has resulted in a budget deficit of $85.3 billion in the 2019/20 FY, with more spending on the cards to drive economic growth.
The Reserve Bank has kept the cash rate at its current record low of 0.25%.
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Disclosure: Peter Small is a Representative of Fluid Financial Planning Pty Ltd ABN 85140515680, holder of Australian Financial Services Licence number: 389518, Suite 4a, Level 1, 5 Ridge Street, North Sydney NSW 2060 General Advice Warning: This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information. Investment Performance: Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.