Reserve Bank of Australia governor Phillip Lowe (Image: AAP/Joel Carrett)

Although the government will significantly reduce income support via JobKeeper and JobSeeker in the December 2020 and March 2021 quarters -- down to about $20 billion from October to March compared with about $10 billion a month now -- that's not the limit of its stimulus.

It's not even the biggest part.

Tomorrow it will reveal historic budget deficits -- $80 to $90 billion for last financial year and, according to estimates, between $170 and $240 billion for the current year, with the risks, as they say, on the upside.