The International Monetary Fund’s (IMF) Article IV mission warns that risks to Australia’s economy are skewed to the downside and so the Reserve Bank of Australia (RBA) should keep rates low.
Key points
- Economic expansion expected to continue
- Gradual upward pressure on wages and prices likely
- Notes and Welcomes slowing housing market
- Warns of risks from slower China growth, trade tensions
- A ‘sharp tightening of global financial conditions could spill over into domestic financial markets’ – would raise funding costs, negative impacts on borrowers
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