Shayne Elliott says it’s extremely unlikely the country will fall into a recession, with most Australian households in “unbelievably good shape” to withstand economic uncertainty
The boss of ANZ bank says it’s extremely unlikely the country will fall into a recession, with most Australian households in “unbelievably good shape” to withstand economic uncertainty.
“The trouble the RBA has is trying to set a rate to change behaviour ... it’s not something that happens in real time. It’s not like you change rates and tomorrow morning we all change our behaviour,” he said. “I worry that in Australia … I worry that this ‘lucky country’ idea, which is true, it has been extraordinarily fortunate, sometimes makes it easy to walk away from really hard decisions and you think about reform, or lack of, over the last 10 or 15 years. Those things I worry about.”
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