Our major focus is to support jobs, incomes and businesses, so that when the health crisis recedes the country is well placed to recover strongly. Supporting small business over coming months is a particular priority. Prior to today's announcement, we had already taken several steps over recent days to support the Australian economy.
Households’ confidence is affected by the persistently weak conditions in labour markets, with too high rates of unemployment in the euro area at large. The overall outlook is still consistent with a moderate growth of economic activity in the second half of the year, but downside risks have clearly increased.