Katrina Ell and Harry Murphy Cruise discussed current economic conditions, the economic outlook, and major risks faced by the Australian economy in light of high interest rates and a weak global economy, even as the economy of China rebounds this year.
- The global economy continues navigating significant challenges as interest rates have increased abruptly leading to asset readjustments, financial market ructions and tougher conditions for households and businesses.
- The Australian economy will inevitably slow over 2023, as households feel the weight of high inflation and rising borrowing costs.
- Challenges and opportunities are abundant in Australia’s exports amid geopolitical ructions, slower global growth and rebounding service exports.
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