‘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...

多家澳大利亞主要銀行的經濟學家下調預測，認為澳儲行持續加息疊加中東衝突推高油價與房價下跌，將使經濟增長明顯放慢、失業率上升。房價回調與加息還可能通過“財富效應”進一步拖累消費，衰退風險被形容為“顯著且上升”。