Economy

Economists Deeply Divided Over Likely Reserve Bank Interest Rate Path

Deep divisions are emerging among some of Australia’s leading banking economists over their outlook for interest rates and the Australian economy. Key points: Major banks are split on cash rate forecasts, with Westpac and ANZ targeting a high of 3.35 percent and CBA 2.6 percent. Westpac chief economist warns inflation could spiral out of control …

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Trade between China and the US increased by 11.8% in January-July despite the growing tension

China USA Trade between China and the US rose 11.8 percent in yuan terms in the first seven months of this year, data released by Chinese customs on Sunday showed, showing “stiff” demand for of Chinese products, the experts said, although they predicted that Sino-US trade growth could slow to some extent in the coming …

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China-Russia trade rose 29% in January-July as nations maintain cooperation in the face of Western sanctions

China Russia Photo: VCG China’s trade with Russia in the first seven months of 2022 rose 29 percent year on year to $97.71 billion, accelerating 1.8 percentage points from the first half of the year, as the two countries maintain normal cooperation despite Western sanctions imposed by the United States. Experts expect China-Russia trade could …

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New Zealand economy ‘hits the wall’ in terms of job growth

New Zealand’s economy “appears to be hitting a wall” in terms of job growth, according to economists at Westpac. In Westpac Weekly Economic Commentaryinterim chief economist Michael Gordon a “downside surprise” in the latest labor market figures was the fact that in the June quarter of 2022 there was zero job growth for the third …

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Fixing inflation is not difficult. Return to healthy growth is

Do you see how we got caught in a low growth trap? Weak growth leads to low business investment, which leads to little productivity improvement, which leads to weaker growth. During the Terrible Decade, the prevailing opinion among politicians was that high unemployment was preferable to high inflation, which could take hold. So unemployment was …

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Two-thirds of the best UK restaurants in the red after Brexit, Covid and inflation | hospitality industry

Debt payments, staff shortages and rising energy bills have pushed nearly two-thirds of the UK’s top 100 restaurants into the red, according to research revealing the impact of the pandemic, Brexit and the crisis. cost of living crisis in the hotel sector. With a recession looming and further rises in energy bills weighing on businesses, …

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