The International Monetary Fund has cut its growth forecast for the Australian economy by a hefty half a percentage point this year, in recognition the country won’t be immune from the global slowdown triggered by US president Donald Trump’s trade war.
Amid a renewed sell-off in global shares and the US dollar after comments by Trump on Monday (Tuesday AEDT) cast renewed doubt over the future of US Federal Reserve chairman Jerome Powell and Fed independence, the Washington-based IMF warned of rising risks to financial stability.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
