Australian Treasurer Chalmers: China's covid strategy poses risks to the economy

Market news

1 June 2022

Australian Treasurer Chalmers: China's covid strategy poses risks to the economy

Following the release of the March quarter GDP release, Australian Treasurer Jim Chalmers is commenting on the persisting risks to the country’s economic outlook.

Australia’s new Treasurer said that China's zero-COVID policy poses risks to the economy.

The economy expanded firmly in the first quarter, shrugging off omicron and east-coast flood-related disruptions earlier in the year, with cashed-up consumers continuing to drive the growth.

Market reaction

AUD/USD was last seen trading at 0.7180, up 0.11% on the day.

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