An alarming new report has weighed in on a “looming recession” headed our way within months – but what does it all mean for Aussies?
According to a new Econosights report by AMP senior economist Diana Mousina, “predictions of an approaching recession have become a consensus forecast”, although global growth has improved in early 2023, particularly in Europe and the US.
Ms Mousina notes that the gloomy outlook reflects a global period of “sharp and fast interest rate hikes” – which Australia is no stranger to after 10 consecutive rate rises – and that “history tells us that there is a good chance that the end of central bank’s tightening cycle will result...
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