Reported about 17 hours ago
Australia's central bank has warned that a global trade war poses significant risks to the economy, potentially leading to lower inflation and higher unemployment. In its quarterly update, the Reserve Bank of Australia noted that global trade tensions, including U.S. tariffs, could drag down growth and impact Australia negatively. It is expected that interest rates will be cut in response to cooling inflation and weaker consumer demand, with new forecasts suggesting unemployment might rise to 4.3% by year-end.
Source: YAHOO