Australia's banks have announced a six-month repayment holiday for small business borrowers and slashed lending interest rates as they join the Morrison government and the Reserve Bank in building a financial bridge to the other side of the coronavirus crisis.
The latest move in what has become a nationwide war on the economic effects of the coronavirus will be followed on Sunday by a government survival package that is set to extend a welfare wage to all workers retrenched or temporarily stood down by the crisis.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
