IMF downgrades Australian economic forecast amid fears of interest rate hike

The new assessment will come as a blow to treasurer Jim Chalmers, who is under pressure to present a convincing story of improving living standards. Photograph: Lukas Coch/AAP The new assessment will come as a blow to treasurer Jim Chalmers, who is under pressure to present a convincing story of improving living standards. Photograph: Lukas Coch/AAP Australia news IMF downgrades Australian economic forecast amid fears of interest rate hike Global financial institution predicts Australia’s GDP will grow to just 1.6% in 2027 as Treasury faces rising energy costs and inflation

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Prefer the Guardian on Google The International Monetary Fund has downgraded its forecast for Australia’s economic growth in 2027, warning the Reserve Bank may have to hike interest rates further to get price pressures back under control.