Australia pauses key interest rate at 3.6% after 10 hikes
1 year, 8 months ago

Australia pauses key interest rate at 3.6% after 10 hikes

Associated Press  

CANBERRA, Australia — Australia’s central bank left its benchmark interest rate on hold at 3.6% on Tuesday following evidence that inflation is falling. Bank Governor Philip Lowe said his board had halted the rise in interest rates to observe the full impact of the rate hike of 3.5 percentage points since May last year. “The board recognizes that monetary policy operates with a lag and that the full effect of this substantial increase in interest rates is yet to be felt,” Lowe said in a statement. “The board took the decision to hold interest rates steady this month to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook.” There is growing evidence that the combination of higher interest rates, cost-of-living pressures and a decline in housing prices was leading to a substantial slowing in household spending, Lowe said. “So the decisions we take and decisions that we’re in the midst of right now, we’re absolutely focused on not making the inflation problems worse.” Opposition treasury spokesman Angus Taylor urged the government not increase taxes due to cost of living pressures on the public from high inflation and interest rates.

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History of this topic

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Top News
5 days, 9 hours ago

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation

Daily Mail  

The Bank of England is set to keep interest rates on hold today despite mounting alarm at the stalling economy. Interest rates, which influence how much banks charge for loans and mortgages, are used as a tool by the central bank to keep inflation at its 2 per cent target level. Rob Wood, chief UK economist for Pantheon Macroeconomics, said: …

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut
2 weeks ago

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut

ABC  

The Reserve Bank has left interest rates on hold in December for a ninth-straight meeting, but opened the door to a rate cut as soon as February. This is a change in language from the board's November statement, which said it needed to "remain vigilant to upside risks to inflation" and was "not ruling anything in or out". "While the …

RBI Likely To Hold Interest Rates Amid Inflation Surge; Economists Push Rate Cut Forecast To February
3 weeks, 5 days ago

RBI Likely To Hold Interest Rates Amid Inflation Surge; Economists Push Rate Cut Forecast To February

ABP News  

The Reserve Bank of India is expected to maintain its key policy rate at 6.50 per cent during its upcoming December 4-6 meeting, according to a Reuters poll. A sharp rise in inflation, driven by soaring food prices, has led several economists to revise their forecasts for the first rate cut in the cycle from December to February. RBI Governor …

Federal Reserve officials signal cautious path for rate cuts amid still-high inflation
3 weeks, 6 days ago

Federal Reserve officials signal cautious path for rate cuts amid still-high inflation

Associated Press  

WASHINGTON — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting. Yet …

Federal Reserve cuts its key interest rate by a quarter-point
Trending News
1 month, 2 weeks ago

Federal Reserve cuts its key interest rate by a quarter-point

The Hindu  

The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week. Why rate cuts by the U.S. Federal Reserve matter to world markets In a statement after its latest meeting ended, the Fed said the …

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened
Trending News
1 month, 2 weeks ago

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened

ABC  

Treasurer Jim Chalmers answers a questions on the RBA interest rates. Member for Macquarie, Susan Templeman, asks: "What does the decision taken today by the Reserve Bank mean for Australians and what progress is being made in the fight against inflation and how does this compare to other approaches?" "Secondly, it reflects the progress that we are making together in …

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation
1 month, 2 weeks ago

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent for its eighth-straight meeting, despite inflation falling to its lowest level in almost four years. In a statement, the RBA said while inflation has "fallen substantially" since it peaked in 2022, underlying inflation remained too high at 3.5 per cent in the September quarter. The …

These numbers are the clues to the Reserve Bank's puzzle: when will interest rates go down?
3 months ago

These numbers are the clues to the Reserve Bank's puzzle: when will interest rates go down?

ABC  

Perhaps no question matters more to Australians worn down by three years of relentless cost pressures: when will the Reserve Bank cut interest rates? But not too much – which is why when inflation shoots high, the Reserve Bank raises interest rates to suppress demand by making it more expensive to borrow and spend. But the Reserve Bank prefers a …

Why is the US cutting interest rates? What does it mean for Australia?
3 months ago

Why is the US cutting interest rates? What does it mean for Australia?

ABC  

The US Federal Reserve has cut interest rates overnight in an important move for the global economy. Economists predicted the Fed would want to start cutting rates before inflation hits 2 per cent because there's a long lag time between interest rate movements and their effect on the economy. It means the Reserve Bank's cash rate target, which sits at …

Why the Reserve Bank will be forced to cut rates before year's end
3 months, 2 weeks ago

Why the Reserve Bank will be forced to cut rates before year's end

ABC  

Until just a few weeks ago, it seemed as though the developed world had pulled off what once was thought to be the impossible. And yet, despite this mounting evidence of a critical economic slump, there remains a rump of high-profile economists openly criticising the Reserve Bank of Australia's reluctance to push interest rates above 5 per cent. Parliament House …

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon
4 months, 2 weeks ago

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon

Daily Mail  

Australia's most powerful banker has aggressively scotched expectations of rate cuts by Christmas - despite global concerns about an American recession and weak local economic activity. In the media conference afterwards, Governor Michele Bullock stressed a rate cut wasn't happening soon - despite the Reserve Bank statement emphasing the risk of an economic slowdown and weaker gross domestic product 'Given …

With rates on hold again, the government and the public hold their breath. What comes next?
4 months, 2 weeks ago

With rates on hold again, the government and the public hold their breath. What comes next?

ABC  

The Reserve Bank's decision to leave interest rates unchanged is the latest in a series of fizzers. RBA governor Michele Bullock did take the unusual step of telling us we should not expect a rate cut in the next six months, taking us out to at least February next year. RBA Board keeps interest rates at 4.35 per cent Photo …

Why headline inflation numbers are masking the confronting financial reality facing many households
4 months, 2 weeks ago

Why headline inflation numbers are masking the confronting financial reality facing many households

ABC  

There won't be protest marches in the streets when the Reserve Bank of Australia makes its next decision on interest rates. In the lead-up to Wednesday's inflation reading for the June quarter, there was speculation that if it came in hot, above 4 per cent, a rate rise would be on the cards. In the end, the "headline" annual rate …

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling
4 months, 3 weeks ago

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling

Daily Mail  

Treasurer Jim Chalmers wants you to believe that rising inflation isn't his fault. Under pressure: Jim Chalmers' excuses for Australia's 'sticky' inflation crisis are unravelling He wants you to focus on the fact inflation is lower now than when Labor came to power. In other words Australia's rising inflation - a quarterly adjusted figure of 3.8 per cent - is …

Why the Reserve Bank of Australia should hold off on interest rate hikes in August
4 months, 3 weeks ago

Why the Reserve Bank of Australia should hold off on interest rate hikes in August

ABC  

There's a curious thing about openness, communication and transparency. Because, despite recently showing a real reluctance to want to push interest rates even higher, she and her Reserve Bank of Australia colleagues have for the past two years made it abundantly clear that they were committed to hammering inflation into submission. Money markets right now have just a one-in-five chance …

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control
5 months ago

European Central Bank leaves key interest rate at 3.75%, waits for signs inflation is under control

Associated Press  

FRANKFURT, Germany — The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again. She added that “obviously, given the size of the US financial markets in particular, the developments taking place in the United …

Interest rates should stay on hold this summer, says Bank of England official
5 months, 2 weeks ago

Interest rates should stay on hold this summer, says Bank of England official

The Telegraph  

Some economists have been calling on the Bank to cut rates for months, although Bank forecasts suggest price rises are likely to pick up in the second half of this year. “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably.” He voted to leave interest rates on hold at the Bank of …

Federal Reserve sees some progress on inflation but envisions just one rate cut this year
6 months, 1 week ago

Federal Reserve sees some progress on inflation but envisions just one rate cut this year

Associated Press  

WASHINGTON — Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from their previous projection of three cuts, because inflation, despite having cooled in the past two months, …

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits
6 months, 3 weeks ago

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits

Live Mint  

-- Australia’s inflation is showing persistent strength and weighing heavily on the finances of some households, a senior Reserve Bank official said, highlighting the limits to further interest-rate increases. “The board are absolutely focused on the fact that inflation is clearly still above the target band,” RBA Assistant Governor Sarah Hunter said at a conference in Sydney on Thursday, referring …

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA
6 months, 3 weeks ago

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA

ABC  

In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. According to the Australian Bureau of Statistics, an underlying measure of inflation — called "trimmed mean" inflation — also picked up again in April, from 4 per cent to 4.1 per cent. "It does not appear that the RBA …

Why further interest rate hikes by the Reserve Bank won't fix Australia's inflation problem
7 months, 2 weeks ago

Why further interest rate hikes by the Reserve Bank won't fix Australia's inflation problem

ABC  

If only there was a diagnosed condition called One Size Fits All syndrome. That's helped push one measure of price rises — core inflation — higher on a quarterly measure. Quick as a flash, that's sparked a renewed demand from some sections of the economics commentariat for further rate hikes to smash the evils of inflation once and for all. …

Annual inflation slows to 3.6 per cent as higher than expected price rise in March quarter rules out early rate cut hopes
8 months ago

Annual inflation slows to 3.6 per cent as higher than expected price rise in March quarter rules out early rate cut hopes

ABC  

In short: Inflation has come in higher than expected, with prices rising by 1 per cent in the March quarter significantly reducing the chance of rate cuts by the Reserve Bank this year. Inflation has come in higher than expected, with prices rising by 1 per cent in the March quarter significantly reducing the chance of rate cuts by the …

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band
9 months ago

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band

ABC  

The Reserve Bank has left interest rates on hold amid signs that growth in the economy has dramatically slowed down following 13 interest rate rises since May 2022. The cash rate remains at 4.35 per cent, and while the central bank gave no clear indication of where it was headed next, saying it was "not ruling anything in or out", …

US inflation unexpectedly rises to 3.2%, dampening hopes of Fed's interest rate cuts in March
9 months, 1 week ago

US inflation unexpectedly rises to 3.2%, dampening hopes of Fed's interest rate cuts in March

Hindustan Times  

US consumer prices witnessed a surge in monthly and annual rates in February, as per the inflation figures issued by the Labour Department on Tuesday. The consumer price index, a frequently followed inflation indicator, climbed 3.2 percent annually in February and 0.4 percent last month alone. Since March 2022, the Fed has progressively raised interest rates through periodic adjustments, bringing …

Did the Reserve Bank hit the brakes too hard? Why Australia's economy is heading into reverse
9 months, 2 weeks ago

Did the Reserve Bank hit the brakes too hard? Why Australia's economy is heading into reverse

ABC  

The softening-up process is already underway. There's now every possibility the GDP numbers could tip negative, giving the first real indication that Australia's economy is shrinking under the weight of 13 interest rate hikes in quick succession. The RBA lifted the cash rate to 4.35 per cent last November, but it hasn't fully flowed through to the whole economy. Prepare …

RBA governor Michele Bullock says she doesn't agree with IMF that Australia needs higher interest rates
10 months, 2 weeks ago

RBA governor Michele Bullock says she doesn't agree with IMF that Australia needs higher interest rates

ABC  

Reserve Bank governor Michele Bullock says she doesn't agree with the International Monetary Fund that Australia should be lifting interest rates even higher. Earlier this week, the RBA board decided to keep Australia's cash rate steady for another six weeks, at 4.35 per cent, saying there were "encouraging signs" that inflation was falling as required. RBA keeps interest rates steady …

Inflation fall 'should kill off' any lingering interest rate rise risks
10 months, 3 weeks ago

Inflation fall 'should kill off' any lingering interest rate rise risks

ABC  

In short: Consumer prices rose just 0.6 per cent over the December quarter, the slowest pace since March 2021, and 4.1 per cent over the past year. Consumer prices rose just 0.6 per cent over the December quarter, the slowest pace since March 2021, and 4.1 per cent over the past year. Moreover, the Reserve Bank's preferred "trimmed mean" measure …

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried
1 year ago

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried

Daily Mail  

Australian borrowers have been warned to expect another rate hike even though the Reserve Bank has this month left interest rates on hold. The cash rate is already at a 12-year high of 4.35 per cent after the RBA last month raised rates for the 13th time in 18 months. KPMG chief economist Brendan Rynne said the Reserve Bank statement …

Reserve Bank warning MORE interest rate rises could be on their way
1 year, 1 month ago

Reserve Bank warning MORE interest rate rises could be on their way

Daily Mail  

Delaying the Melbourne Cup Day rate hike would have risked a more aggressive increase to interest rates in the months ahead, minutes released by the Reserve Bank have revealed - but there still may be more rises to come. The RBA, in its November 7 board minutes released on Tuesday, noted its updated economic forecasts, which show inflation returning to …

Reserve Bank raises interest rates, repayments now up more than 50pc since hikes began
1 year, 1 month ago

Reserve Bank raises interest rates, repayments now up more than 50pc since hikes began

ABC  

After keeping rates on hold for the past four meetings, the Reserve Bank has resumed hiking its cash rate target, with a quarter of a percentage point increase taking the benchmark interest rate to 4.35 per cent. Key points: At 4.35 per cent, the cash rate is at its highest level in 12 years The rate rise will add around …

Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hike
1 year, 1 month ago

Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hike

Associated Press  

WASHINGTON — The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead. The central bank’s latest statement noted that the economy “expanded at a strong pace” in the July-September quarter and that job gains “remain strong.” …

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor
1 year, 3 months ago

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor

Daily Mail  

The Reserve Bank has left interest rates on hold at an 11-year high of 4.1 per cent for the third straight month. Since peaking at 8.4 per cent late last year, the monthly measure of annual inflation has moderated, falling back to 4.9 per cent in July, the lowest level since February 2022, from 5.4 per cent in June. But …

The five factors that will determine when the interest rate pain for households will end
1 year, 6 months ago

The five factors that will determine when the interest rate pain for households will end

ABC  

At some point the Reserve Bank will stop lifting interest rates and begin easing its monetary policy. Rising wage increases and higher productivity The size of our pay packets is crucial to the Reserve Bank's thinking on the direction of interest rates. The RBA's view is that wages growth — which is currently just under 4 per cent — is …

Fed pauses interest rate hikes but signals more tightening ahead
1 year, 6 months ago

Fed pauses interest rate hikes but signals more tightening ahead

Firstpost  

The Federal Reserve has already lifted its benchmark lending rate by five percentage points since it began raising rates to fight inflation in March 2022. The US Federal Reserve voted Wednesday to pause its aggressive campaign of interest rate hikes despite “elevated” inflation while indicating a sharp increase could be needed before the end of the year. “Looking ahead, nearly …

US Federal Reserve Keeps Interest Rate Unchanged after 10 Straight Hikes
1 year, 6 months ago

US Federal Reserve Keeps Interest Rate Unchanged after 10 Straight Hikes

News 18  

The Federal Reserve kept its key interest rate unchanged Wednesday after having raised it 10 straight times to combat high inflation. The Fed’s move to leave its benchmark rate at about 5.1%, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation. One reason why the …

Hike again? Take a pause? Fed officials are split about what to do next to fight inflation
1 year, 7 months ago

Hike again? Take a pause? Fed officials are split about what to do next to fight inflation

Associated Press  

WASHINGTON — The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed’s policies cloudier than at any time since it unleashed a streak of 10 straight rate hikes beginning in March 2022. “As of today, though, we aren’t there yet.” On inflation, she said, …

Federal Reserve Official Leaves Door Open for Interest Rate Hike to Tackle Inflation
1 year, 7 months ago

Federal Reserve Official Leaves Door Open for Interest Rate Hike to Tackle Inflation

News 18  

A top Federal Reserve official left the door open Tuesday on a further interest rate hike to combat inflation, although stressing that the US central bank’s future decisions must be data dependent. The comments by New York Fed President John Williams came a week after policymakers unveiled a tenth and possibly final rate increase in the current cycle, adding that …

The RBA's interest rate pause was a close call that could change as early as next month
1 year, 8 months ago

The RBA's interest rate pause was a close call that could change as early as next month

ABC  

The Reserve Bank has revealed its decision to pause its aggressive interest-rate-hiking strategy was a close call, while warning that more hikes may be needed to tame inflation. Key points: The RBA kept interest rates on hold this month for the first time in a year Minutes from the meeting show board members want time to see the lagged impact …

Don’t hit pause in the battle to contain inflation
1 year, 8 months ago

Don’t hit pause in the battle to contain inflation

Hindustan Times  

On April 6, the Reserve Bank of India announced its first monetary policy decision of the financial year 2023-24. Back in February, when MPC raised the repo rate by 25 basis points, the latest data showed that headline inflation had moderated to 5.7%, whereas going into the latest meeting headline, consumer price index inflation had gone up to 6.4% in …

The Reserve Bank has left interest rates on hold as Governor Philip Lowe's moment of truth looms
1 year, 8 months ago

The Reserve Bank has left interest rates on hold as Governor Philip Lowe's moment of truth looms

ABC  

Australia's Reserve Bank has hit pause on interest rates after ten successive hikes, but for many Australians, the pain it has inflicted is about to begin. The bank says more than one million households will come off ultra-low fixed-rate mortgages this year and the next, some of those rates fixed for as low as 1.95 per cent. Reserve Bank leaves …

Reserve Bank interest rate pause does little for people struggling with cost of living pressures
1 year, 8 months ago

Reserve Bank interest rate pause does little for people struggling with cost of living pressures

ABC  

While the Reserve Bank pausing the cash rate at 3.6 per cent is welcome news for residents hit hard by a year of rate hikes, it provides little immediate relief for people struggling with the cost of living. Key points: The Reserve Bank has paused the target cash rate at 3.6 per cent It follows 10 consecutive rate hikes Business …

We're dealing with a particularly nasty form of inflation, and a pause in rate hikes is unlikely to mean the end of hip pocket pain
1 year, 8 months ago

We're dealing with a particularly nasty form of inflation, and a pause in rate hikes is unlikely to mean the end of hip pocket pain

ABC  

Tuesday's Reserve Bank interest rate decision will be what's called a "live" decision. While not in the Reserve Bank's "charter", maintaining an inflation target of between 2 and 3 per cent "on average, over time" has been critical to the Reserve Bank's thinking on interest rates since the early 1990s. Sure, the RBA may be able to pause its interest …

What ANZ, Westpac, Commonwealth Bank, NAB predict will happen with interest rates
1 year, 8 months ago

What ANZ, Westpac, Commonwealth Bank, NAB predict will happen with interest rates

Daily Mail  

The Reserve Bank is expected to leave interest rates on hold next week for the first time in a year as inflation shows signs of moderating. What Australia's banks now expect COMMONWEALTH BANK: April pause and a May hike taking the Reserve Bank cash rate to 3.85 per cent. The Commonwealth Bank, Australia's biggest home lender, is expecting the RBA …

Inflation keeps falling, increasing chances of a Reserve Bank interest rate pause
1 year, 8 months ago

Inflation keeps falling, increasing chances of a Reserve Bank interest rate pause

ABC  

The official measure of inflation has fallen for the second month in a row, easing pressure on the Reserve Bank of Australia to hike interest rates next week. Key points: Annual inflation has fallen to 6.8 per cent, from a peak of 8.4 per cent in December Most categories of goods and services recorded smaller price increases than they had …

Why RBA interest rate hikes could end by September – but brace for at least one more
1 year, 9 months ago

Why RBA interest rate hikes could end by September – but brace for at least one more

ABC  

Tuesday's 10th successive Reserve Bank interest rate hike is the culmination of a process that has added $1,080 to the monthly cost of payments on a $600,000 variable mortgage. I've calculated this increase in payments — which amounts to $12,960 per year — by comparing payments on the National Australia Bank's base variable mortgage rate before the Reserve Bank started …

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting
1 year, 9 months ago

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

ABC  

Federal government ministers have acknowledged an increase in distress calls to crisis support hotlines over cost of living, but say the fight to rein in inflation must continue. Key points: The federal government has acknowledged a spike in financial distress calls to crisis hotlines Reserve Bank governor Phillip Lowe says mental health concerns of Australians weighs heavily on him The …

Australians feeling the sting of inflation and rising interest rates could soon face a recession — and more pain
1 year, 9 months ago

Australians feeling the sting of inflation and rising interest rates could soon face a recession — and more pain

ABC  

What happens on the other side of trouble? The National Accounts, which also measure inflation with what's called the GDP "price deflator", has the cost of living rising at 9.1 per cent. AMP senior economist Diana Mousina puts the "recession probability in the next two years as high, around 40 per cent". "That's almost half the 4.7 per cent annual …

Bank policymaker says pausing interest rate rises ‘risks worst of both worlds’
1 year, 10 months ago

Bank policymaker says pausing interest rate rises ‘risks worst of both worlds’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A Bank of England policymaker …

Australia to flirt with recession this year, warns NAB
1 year, 10 months ago

Australia to flirt with recession this year, warns NAB

ABC  

National Australia Bank has delivered a sobering assessment of how it expects the economy to perform this year. Key points: NAB is expecting economic growth to slow to 0.7 per cent over 2023 and 0.9 per cent in 2024 With some quarters forecast at just 0.1 per cent growth, Australia risks a recession The construction sector is likely to hold …

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