Reserve Bank | |
---|---|
Cut official cash rate to 0.1 per cent (Nov 2020-May 2022) | |
Forward guidance - committing to keep interest rates unchanged at a low level for an extended period of time | |
Purchase of state and federal government bonds | $281 billion |
A line of cheap credit to commercial banks under the term funding facility program | $188 billion |
Federal government | |
Approximately $300 billion including: | |
JobKeeper - wage subsidy program | $90 billion |
Early release of superannuation to people affected by the pandemic | $38 billion |
Employer cash flow bonus, giving firms up to $100,000 in tax-free credits | $35 billion |
Pandemic support payments | $30 billion |
Early implementation of stage 2 tax cuts/retention and increase of low and middle income tax offset | $23 billion |