Reserve Bank economic growth
Reserve Bank Governor Philip Lowe

11.30am on June 3, 2009 was a key moment in Australia's response to the financial crisis. That was when the national accounts for the March 2009 quarter were released, which would reveal whether Australia had tipped into recession after GDP had fallen 0.5% in the December 2008 quarter.

At 11.30, the ABS revealed surprise growth of 0.4% (a number later revised up to an impressive 1%). Kevin Rudd and Wayne Swan's first stimulus package had saved Australia from recession, to the visible chagrin of then-opposition leader Malcolm Turnbull.