RBA risks a recession but feels there's nothing else it can do

The Reserve Bank of Australia raised its cash rate to 4.35 percent, risking recession to combat inflation despite downgraded growth forecasts. The RBA expects economic growth to bottom at 1.3 percent with unemployment peaking at 4.7 percent under its baseline scenario. Adverse scenarios model growth below 0.5 percent annually, significantly raising recession risk if current geopolitical tensions persist.

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