If we can avoid a recession for another two years, then on July 1, 2021 Australia will have recorded a record 30 years of economic expansion. We will be entering our fourth decade recession-free.
A major downturn in housing markets, historically low interest rates and an international economy more complex and troublesome than we have seen for decades mean the new government will need to take bold and creative decisions in order for us to achieve this truly remarkable milestone.
Things would be okay globally…
- ^ Quarterly Statement on Monetary Policy (www.rba.gov.au)
- ^ Reserve Bank Statement on Monetary Policy May 2019 (www.rba.gov.au)
- ^ Stakes are high as US ups the ante on trade dispute with China (theconversation.com)
- ^ No surplus, no share market growth, no lift in wage growth. Economic survey points to bleaker times post-election (theconversation.com)
- ^ Reserve Bank Statement on Monetary Policy forecasts, May 2019 (www.rba.gov.au)
- ^ Vital signs. Zero inflation means the Reserve Bank should cut rates as soon as it can, on Tuesday week (theconversation.com)
- ^ for tricky political waters (theconversation.com)
- ^ Why the Reserve Bank shouldn't (but might) cut interest rates on Tuesday (theconversation.com)
- ^ low and middle income tax offset (theconversation.com)
- ^ Trick question: who's the better economic manager? (theconversation.com)
- ^ Australia’s populist moment has arrived (theconversation.com)
Authors: Warren Hogan, Industry Professor, University of Technology Sydney