Episode Details

HSBCs top economist, Paul Bloxham, warns of a potential recession in Australia due to skyrocketing oil prices, which could reach $140 USD per barrel by 2026. This could lead to contraction in the June and September quarters, with unemployment potentially rising to 5.5%. Other banks predict oil hitting $150 USD per barrel and inflation at 6.4% by June. The governments fuel excise cut may only delay the peak of inflation. The Middle East conflicts outcome will determine if Australia can avoid this economic downturn.

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