Sky News Business Editor Ross Greenwood says the International Monetary Fund predicts an economic slowdown for Australia’s economy but the RBA suggests an “even weaker” series of events.
“The forecast for the global economy is going to slow down quite dramatically, particularly in the United States and in the advances economies but the rest of the world is going to be pretty strong,” Mr Greenwood said.
“The outlook is for Australia’s economy to slow … this is no surprise, Australia’s economy has always been expected to slow later this year in particular as the 10 interest rate rises the Reserve Bank handed out catch up. “The International Monetary Fund … forecast, 2022, 3.7 per cent going to 2023 this year, 1.6 per cent and then 1.7 per cent, so you can see that slowing of Australia’s economy … the Reserve Bank … over the course of the next two years they’re saying Australia’s economy could be even weaker than the International Monetary Fund suggests.”
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