The Labor Government has signalled that a recession is not expected despite the latest cash rate hike and inflation running at its highest level since 1990.
, its highest level in more than a decade.
Stream more on politics with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends 31 October, 2023 Speaking in Canberra, Prime Minister Anthony Albanese said he’s now “hopeful” that number has now peaked, noting Australia hasn’t reached levels seen by other nations. “It hasn’t reached that here, but it is clearly having an impact. We are not immune from the impact of the global economy in today’s interconnected world.”
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