Goldman Sachs cuts Australia's 2025 growth forecast to 1.8%, citing potential U.S. tariffs on China.

Goldman Sachs has reduced its forecast for Australia's 2025 economic growth to 1.8% from 2%, citing potential negative effects from US President-elect Trump's planned tariffs on China. These tariffs could hurt Australia's exports to China, a major trading partner. Goldman also predicts the Reserve Bank of Australia will cut interest rates to reach a final rate of 3.25% by November 2025.

November 18, 2024
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