https://www.rba.gov.au/speeches/2020/sp-dg-2020-03-11.html  6/12  11/03/2020  The Virus and the Australian Economy | Speeches | RBA  Graph 6  Equity prices have fallen by as much as 20 per cent since their all-time peak of less than a month ago, although the Australian market rebounded on Tuesday (Graph 7).
Compared with the June 2015 Eurosystem staff macroeconomic projections, the outlook for real GDP growth has been revised down, primarily due to lower external demand owing to weaker growth in emerging markets. The risks to the euro area growth outlook remain on the downside, reflecting in particular the heightened uncertainties related to the external environment.