The chief investment officer of Australia’s biggest super fund says the Reserve Bank will tame inflation in the short term but will “most likely” plunge the country into recession.
The head of Deloitte Access Economics,Pradeep Philip,warns the Reserve Bank is pushing the country to the brink of recession.
Top economists say the RBA and its fight to bring down inflation will be the key influence on the strength of the economy through 2023 and into next year.
The federal treasurer said new analysis by his department showed the government’s intervention was “already starting to work” by causing a fall in power price rises.
From “quantitative tightening” to “neutral interest rates” and “wage price spiral”,here is a rundown of key economic terms you’ll need to know ahead of the 2023 economic maelstrom.
Drinks retailers are struggling to keep Moet and Veuve Clicquot on shelves and experts are urging Australians to diversify their palates.
RBA governor Philip Lowe acknowledged that rates had risen “materially” since May but said the board expected to increase them further over the period ahead.
If the advanced economies’ central banks push the world into recession,the biggest risk isn’t that they’ll drag us down too,but that Australia’s Reserve Bank will raise interest rates too far.
Jim Chalmers’ first budget makes good on some election promises,but there’s still plenty of work ahead. Here’s what our experts thought.
The Australian economy is surprisingly well-protected against the rising cost of living. Spending cuts would be deeper if consumers hadn’t banked more than $200 billion in savings over the pandemic.
High and persistent inflation worldwide,and the actions by central banks to rein it in,are depressing economic activity,dampening confidence,and roiling financial markets.