The largest Swiss bank UBS conducted a study showing that housing prices in Australia could drop by 30% if a recession occurs in the country. In the event of the first recession in 27 years, UBS experts also expect large-scale legal proceedings in connection with violations by banks in the sale of mortgage loans. According to them, in such conditions, the Central Bank of Australia will reduce rates to zero and will be forced to introduce its own version of quantitative easing. UBS analyst Jonathan Mott sees the rapidly deteriorating situation in the Australian housing market as a signal of approaching even more difficult times.
Japan car sales drop by 38% last month due to the coronavirus pandemic29.06.2020
Gold prices move closer to $1,800 as COVID-19 cases surpasses 10 million worldwide26.06.2020
Oil prices climb in light of demand recovery optimism despite coronavirus fears24.06.2020
Gold prices soar amid surge in COVID-19 cases