- Analytics
- News and Tools
- Market News
- Australia: GDP growth to slow sharply in 2023 but remain positive – ANZ
Australia: GDP growth to slow sharply in 2023 but remain positive – ANZ
Economists at ANZ Bank have downgraded their Australian GDP forecast to 1.5% year-on-year by end-2023. Notwithstanding the slower forecast growth trajectory, the the extent of RBA tightening is unchanged.
Growth downgrade doesn’t change the policy outlook
“We have downgraded our Australian GDP forecast to 1.5% YoY by end-2023 (prev: 1.8%) but expect Australia willavoid recession this cycle.
“The labour market, wages growth and the path of inflation will determine the extent of RBA tightening in 2023. We have pared our forecast peak for headline CPI inflation to 7.8% YoY in Q4 2022 (prev: 8.0%) but underlying inflation will be particularly sticky.”
“An extended period of restrictive rates will be required to bring inflation back to target, notwithstanding the slower growth trajectory. We see the cash rate peaking at 3.85% by May 2023 with no cuts until late-2024.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
