Reserve Bank deputy governor Michele Bullock sees worrying signs in Europe, the US and China.
says rising interest rates, energy shocks in Europe and a highly indebted and locked down economy in China has put the global economy on a “knife’s edge”.
The main risk, Ms Bullock was uncertainty as to how the United States and European economies would handle sharply rising interest rates.“The US has excess demand and it’s trying very hard to bring that down. Its interest rates are going to continue to go up sharply. Europe has got its own problems – it’s got inflation, but it’s also got a massive energy shock which is going to impact their production.
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