Please click the link below to view Shane Oliver’s views on the current state of the Australian economy.
Key points raised are:
- Australian economic growth remains weak at 2.5%
- Expect another one or two RBA cash rate cuts and the Australian dollar to fall to around $US0.70 by year end.
- Record low borrowing rates, the falling Australian dollar, lower fuel prices and rising wealth should help boost growth to 3% or just over next year.
- The recent profit reporting season was better than feared, but stronger economic growth will be needed to meet market expectations.
