Reserve Bank of Australia Governor Lowe was (relatively) upbeat in his forecasts for the Australian economy when he spoke yesterday
AMP's Shane Oliver, Head of Investment Strategy and Economics and Chief Economist, who has been far more accurate in his outlook for RBA policy than the RBA itself has been, is not so content:
- Australia … "It's certainly possible that we're in recession"
- "The drag from the bushfires, and particularly if the coronavirus continues for some time and the travel bans take more than two weeks to be lifted - that could take us into negative territory
- The issue then becomes whether we see a rebound in the June quarter."
Oliver continues to forecast two interest rate cuts this year and the possibility of unconventional monetary policy by Christmas,
