The Guardian Australia – News
·general
·4 hours ago
Australian household confidence drops 13% to lowest level since Covid pandemic
Australian household confidence plummeted 13% to 80 points, its lowest since the onset of the Covid pandemic, due to a stagflationary shock triggered by the Iran war. Reserve Bank of Australia deputy governor Andrew Hauser called the situation a "central banker’s nightmare" as rising fuel prices and inflation strain economic activity. The outlook suggests a prolonged period of economic weakness.
Summary by Glance · The Guardian Australia – News
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