ANZ\u2019s chief executive Nuno Matos has laid out the four major threats for Australian and global markets.<\/p>\n
Mr Matos told a House of Representatives Standing Committee on Economics on Thursday that the combination of inflation, rising interest rates, increased government spending, and the AI investment boom was creating a serious global problem.<\/p>\n
“Globally, undoubtedly, the combination of those four factors, and Australia is not different in that regard,” Mr Matos said.<\/p>\n
“They are contributing to a competition for capital. We never saw this amount of spending in our lives, in our lifetimes.\u00a0<\/p>\n
“We have a very curious situation in the world where we have equity markets at record highs, basically because of the tech wave and basically because of the AI wave, but at the same time you have record highs of interest rates.<\/p>\n
“It’s a dangerous situation for the world.”<\/p>\n
Mr Matos said the biggest risk was a global economic shock from AI, though he stressed that such an outcome was not expected.<\/p>\n
“If we have an AI, let’s call it an AI blip, in the world, we will have globally a big problem,” he said.<\/p>\n
“Now, do I expect that? No. But that’s not impossible to happen.”<\/p>\n
He said that despite increased government expenditure, strong investment in artificial intelligence, and rising interest rates, Australia was unlikely to enter a recession.<\/p>\n
\u201cOur forecast is for below 2 per cent growth in 2026 and 2027, that is our central scenario and that is what our economists say,\u201d he said.<\/p>\n
\u201cAustralia has a 2 per cent ceiling on growth, meaning every time we start approaching that level, the lack of productivity does not allow us to go above without creating inflation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"ANZ\u2019s chief executive Nuno Matos has laid out the four major threats for Australian and global markets. Mr…\n","protected":false},"author":2,"featured_media":962272,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[530105,33873,530127,530124,530118,530104,431933,530111,380044,422354,381599,530121,530115,256,530120,530130,452993,530117,5629,530119,530125,27619,254,64,63,530136,8878,99,45432,530123,393008,530114,182,68953,2960,5693,164,87165,380445,258232,5927,530132,5305,429318,9190,530122,20309,208,399916,530110,530116,5465,5626,5474,171,530126,376630,483308,530131,391329,530108,395646,394029,20246,3324,98768,530129,74021,512584,350403,166898,376752,530128,530134,530112,530109,105,390382,389976,530106,530133,447009,401157,530107,380950,387717,530113,54798,507254,530135,9357],"class_list":["post-962271","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-s-chief-executive-nuno-matos","tag-33873","tag-2026-and-2027","tag-a-dangerous-situation","tag-a-2","tag-a-big-problem","tag-a-competition","tag-a-global-economic-shock","tag-a-house","tag-a-recession","tag-a-recipe","tag-a-serious-global-problem","tag-a-very-curious-situation","tag-ai","tag-ai-risk","tag-ai-shock","tag-an-ai","tag-an-ai-blip","tag-anz","tag-anz-boss","tag-anz-chief-executive","tag-artificial","tag-artificial-intelligence","tag-au","tag-australia","tag-australian-and-global-markets","tag-banking","tag-business","tag-capital","tag-cent-ceiling","tag-cent-growth","tag-dangerous-situation","tag-economic-growth","tag-economic-outlook","tag-economic-uncertainty","tag-economics","tag-economy","tag-equity-markets","tag-every-time","tag-expenditure","tag-financial-markets","tag-four-major-threats","tag-global-economy","tag-global-equity-markets","tag-global-markets","tag-global-risks","tag-government-spending","tag-growth","tag-high-interest-rates","tag-increased-government-expenditure","tag-increased-government-spending","tag-inflation","tag-interest-rates","tag-investment","tag-markets","tag-mr-matos","tag-newswire-martin-ollman","tag-other-factors","tag-our-central-scenario","tag-our-economists","tag-our-forecast","tag-our-lifetimes","tag-our-lives","tag-picture","tag-productivity","tag-recession-risk","tag-record-government-spending","tag-record-highs","tag-representatives-standing-committee","tag-rising-interest-rates","tag-shayne-elliott","tag-snapp-breaking-or-general-news","tag-spending-boom","tag-strong-investment","tag-such-an-outcome","tag-super-cycle","tag-technology","tag-that-level","tag-that-regard","tag-the-ai-investment-boom","tag-the-ai-wave","tag-the-biggest-risk","tag-the-combination","tag-the-four-major-threats","tag-the-lack","tag-the-same-time","tag-the-tech-wave","tag-the-world","tag-this-amount","tag-those-four-factors","tag-thursday"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/962271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=962271"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/962271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/962272"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=962271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=962271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=962271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}