-
Did the Reserve Bank hit the brakes too hard? Why Australia's economy is heading into reverse
The softening-up process is already underway. After the inflation numbers dropped last week, coming in well below expectations, Treasurer Jim Chalmers could see the writing on the wall. When the economic growth numbers are released on Wednesday, there's little chance the news will be good. Until Monday, most economists were predicting growth of between 0.1 per cent and 0.3 per cent for the December quarter. That all changed when the ABS revealed Australian companies were running down their inventories at an alarming pace, indicating they have little faith that demand will pick up any time soon. There's now every ... (full story)