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WorldPosted at: Jun 4 2020 4:44PM


Australian economy enters recession, possibility of mortgage default looms large: Analysts

Canberra, Jun 4 (UNI) Australia has entered its first recession in 29 years primarily caused due to the COVID-19 pandemic and the bush fires, analysts say.
Moreover, by September, large scale mortgage might defaults, further complicating the challenges faced by the economy.
ABC news quoted market analysts and economists predicting that once the JobKeeper payments end in September mortgage repayment holidays would be over and several cash- stressed households could default on their mortgages.
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Tags: #Australian economy enters recession# possibility of mortgage default looms large: Analysts
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