Australia's economy projected to grow 0.1% in June, amidst high interest rates & minimal RBA responses.

Australia's economy is projected to remain weak in the June quarter, with a predicted 0.1% quarterly increase leading to an annual growth of 0.8%, the lowest since the early 1990s. High interest rates, implemented by the Reserve Bank of Australia to combat inflation, are suppressing consumer spending and business investment. Experts anticipate continued sluggish growth and minimal responses from the RBA amid ongoing economic challenges.

September 01, 2024
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