‘Sharper, longer slowdown’ predicted for Australian economy as fifth interest rate hike looms

Australia’s central bank expected to hit mortgage holders again on Tuesday, as war in Middle East combines with collapsing house prices Get our breaking news email , free app or daily news podcast Australia’s economy is set for a “sharper, longer slowdown”, major bank economists say, as the Reserve Bank is forced to keep interest rates higher to rid the nation of persistent inflationary pressures. The RBA is widely expected to hit mortgage holders with a fifth rate hike on Tuesday, in a move that will push the cash rate to its highest since 2008 amid rising worries the economy could even be tipped into recession. Continue reading...

多家澳大利亚主要银行的经济学家下调预测，认为澳储行持续加息叠加中东冲突推高油价与房价下跌，将使经济增长明显放慢、失业率上升。房价回调与加息还可能通过“财富效应”进一步拖累消费，衰退风险被形容为“显著且上升”。