Tuesday, April 18, 2023

Consumer recession risk grows as Reserve Bank rate rises hit hard - Deloitte Access Economics warning

A top economic forecaster is warning the Reserve Bank is tempting fate with more interest rate rises and predicts the hikes delivered so far will plunge Australia into a consumer recession later this year. 

Deloitte Access Economics says the nation is facing the weakest economic growth since the 1990s recession with households reeling from the twin fronts of higher mortgage repayments and surging rents.

I speak on AM with Deloitte Access Economics partner Stephen Smith

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