‘There’s No Free Lunch’ By Cointelegraph

Australian Reserve Bank Blasts Money Printing: ‘There’s No Free Lunch’

Australian Reserve Bank governor Philip Lowe has taken a swipe at the concept of money printing, as further fiscal stimulus measures are rolled out in the country amid the ongoing pandemic.

In a speech in Sydney on Tuesday, the central bank boss said the government could borrow “on very favorable terms” and said public debt was currently much lower than in many other countries. Calls for money printing are misguided he said:

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Europe’s giant new economic stimulus package boosts global markets

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.

Good evening, Bull Sheeters. Fortune finance reporter Rey Mashayekhi here, filling in again this week for Bernhard Warner with a special PM edition of the newsletter.

Global markets continued to climb on Tuesday, with optimism over a coronavirus vaccine apparently the rising tide lifting all boats. There’s also a massive new European economic stimulus package to account for, as well as corporate earnings reports that, by and large, are exceeding expectations.

Markets update

U.S.

  • Despite giving up a decent chunk of their gains late in the afternoon, the Dow ended the day up 160 points (+0.6%) while the S&P 500 ticked up 0.2%. The Nasdaq gave back some of Monday’s gains and was down 0.8%.
  • Major companies that reported earnings today include Coca-Cola,
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