Economic growth is expected to slump to its lowest rate in the three decades outside the pandemic as rising mortgage rates and high taxes batter household budgets.
The Reserve Bank downgraded its near-term growth forecasts on Friday as the economy cools in response to the fastest interest rate tightening cycle in decades.
Loading...
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
