Economists are warning Australia could tip into a recession this year if the Reserve Bank keeps raising rates.
Wednesday’s Consumer Price Index is expected to show inflation may have reached 7.5 per cent at the end of last year ahead of an expected ninth consecutive rate hike to 3.5 per cent when the RBA meets next month.
Deloitte warns a dramatic slowdown is on the cards in 2023, meaning growth could decrease from 3.6 per cent to 1.7 per cent.
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