Strong competition as Vic economy ranked nation’s best
Economic activity, retail spending and business investment has catapulted Victoria to best performing economy in the nation but it faces stiff competition.
Economic activity, retail spending and business investment has catapulted Victoria to best performing economy in the nation but it faces stiff competition.
Another interest rate hike is expected when the Reserve Bank board meets on Tuesday for the first time in two months.
The Reserve Bank of Australia sees inflation peaking higher, slower growth and a higher jobless rate as economic challenges intensify.
The central bank will release its quarterly Statement on Monetary policy, setting out new forecasts for the economy, labour market, wages and inflation.
Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.