Homeowners will face mortgage rates near 5.5% in a little over a year, according to a survey of 22 leading Australian economists.
The Conversation’s 2022-23 forecasting survey predicts an increase in the Reserve Bank’s cash rate from its present 0.85% to a peak of 3.1% by next August.
Census data to be released Tuesday shows Australia changing rapidly before COVID, gaining an extra one million residents from overseas in the past five years, almost all of them in the three years before borders were closed.
A recession in the US usually brings on a recession in the rest of the world, although not always in Australia.
Australia has escaped such a recession twice in the past 50 years.
Stand by for something “reckless and dangerous”.
There are four economic wildcards between now and the election, and we know exactly when each will be played.
This election will be won by the Coalition and Prime Minister Scott Morrison if the economic models perform as expected – and they usually do.
Offered a menu of issues to choose from as the most important in the May 21 election, Australia’s top economists have overwhelmingly zeroed in on one.
Wes Mountain/The Conversation, CC BY-ND
Cutting petrol tax to bring down the cost of living used to be the political version of a joke. Failed US presidential candidates John McCain and Hillary Clinton both tried it in 2008.