Reserve Bank governor Philip Lowe has given the Morrison government the green light to increase debt levels and lock in a budget deficit this Thursday of more than $200 billion to support the economy during its recovery from the virus crisis.
But the governor rejected the idea the central bank should directly fund government spending by printing money.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
