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Agency: 40% risk of recession in Australia in 2024
Shane Oliver, chief economist at AMP Capital, said the risk of a recession in the Australian economy in the coming year is 40%. He expects the RBA to cut the cash Intrerest Rate to 3.6% from the current 4.35% as the economy slows. At the same time, residential real estate prices are likely to fall. Oliver added that the key factors to watch are inflation and Intrerest rates, recession risks, U.S. politics and consumer spending.