No recession but inflation hike and increased cost-of-living pressure on the way, Jim Chalmers says
Economists predict RBA will raise interest rates this week and in May – days before treasurer unveils budgetFollow our Australia news live blog for latest updatesGet our breaking news email,...
By Tom McIlroy Political editor · The Guardian World
Economists predict RBA will raise interest rates this week and in May – days before treasurer unveils budget Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Households can expect significant additional cost-of-living pressures because of the war in the Middle East, with Jim Chalmers confirming that the government expects inflation to rise beyond 4.5% in Australia. But the treasurer said he did not expect the economy to fall into recession because of the war sparked by US and Israeli bombings in Iran. Continue reading...