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MNI INSIGHT: RBA Confident Of Avoiding Recession As Econ Cools

MNI (Sydney)
SYDNEY (MNI)

A soft landing is possible even as the economy likely slows later this year.

The Reserve Bank of Australia is not expecting a domestic recession as the economy heads to lower growth later this year on weaker consumer spending as part of the cost of controlling inflation, MNI understands.

The RBA’s view is that the economy is currently running hot largely due to strong employment, and while wages are increasing, they are still likely to be lagging inflation which is expected to reach around 7% this year.

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The Reserve Bank of Australia is not expecting a domestic recession as the economy heads to lower growth later this year on weaker consumer spending as part of the cost of controlling inflation, MNI understands.

The RBA’s view is that the economy is currently running hot largely due to strong employment, and while wages are increasing, they are still likely to be lagging inflation which is expected to reach around 7% this year.

Keep reading...Show less