SMH
·general
·1 hour ago
RBA raises rates as Trump's Iran conflict pressures oil prices and growth
Australia's Reserve Bank raised interest rates Tuesday amid oil price pressures from Trump's Iran conflict, upending monetary policy forecasts. The bank now models three scenarios, none optimistic: baseline expects modest growth with 5 percent unemployment; worst case sees oil near $145 per barrel, costing $60 billion in economic output and 120,000 jobs. Inflation could fall to 2.4 percent by mid-2025.
Summary by Glance · SMH
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