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Highlights:
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Shutdowns, isolation, and social distancing measures have had a profound impact on consumer-facing sectors and have resulted in large spikes in unemployment.
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Central banks around the world have embarked on unprecedented emergency lending and bond buying programs to combat the economic effects of the coronavirus.
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The Bank of England forecasts UK GDP to contract by 14% in 2020, driven by a 25% decline in the June quarter, to be followed by a rapid recovery.
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The Reserve Bank of Australia kept rates on hold at 0.25% at its May meeting and continued targeting the 3-year government bond yield at the same rate.
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Growth in new coronavirus cases in Australia slowed significantly in April, although a second wave of infections could eventuate if restrictions are eased too quickly.
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Read full May 2020 market update report >>
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