The Australian’s Adam Creighton says the “best guess” is Australia and the US will avoid a recession amid rate rises affecting the economy.
“The best guess is we won’t go into a recession and the reason I say that is because most of last year here in the US everyone was saying the US would go into a recession and it simply has not,” Mr Creighton told Sky News host Sharri Markson.
“The job market here is extremely strong, jobless rate’s about 3.5 per cent just like in Australia, very low.
“Rates are going to keep going up and at some point it will affect the economy, especially in Australia where most home loans are variable rate.”
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