Treasurer Jim Chalmers has pushed back on a recession warning from Reserve Bank governor Michele Bullock and says Treasury does not expect the economy to head into a significant downturn.
After raising rates for the second month in a row to tame inflation, and with soaring petrol prices threatening more pain, Bullock said the RBA’s monetary policy board did not want a recession but that further rate increases, which could trigger a recession, were not out of the question.
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