Australia faces 'unprecedented' economic hit from coronavirus - RBA minutes

SYDNEY (Reuters) - Australia is facing an "unprecedented" economic contraction due to the coronavirus pandemic, though massive fiscal and monetary stimulus would help cushion the blow, minutes from the country's central bank's last meeting showed on Tuesday.The Reserve Bank of Australia (RBA) had on May 5 left the cash rate at 0.25%, as expected, and recommitted to buying as much government debt as needed to keep three-year bond yields near 0.25%.The minutes showed board members discussed a..