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High interest rates are crushing Australia’s economy
Australia’s economic strain reflects high interest rates, low productivity, and risks of weaker job prospects and ambitions.
High interest rates threaten Australia’s economy with slower growth and weaker job prospects, warns RMIT’s Chris Berg
‘The chickens are coming home to roost’ regarding Australia’s economic policies and spending.
Professor Chris Berg from RMIT University argues that high interest rates are a burden on the economy.
He highlights that inflation isn’t matched by productivity gains, leading to slower growth.
This could result in weaker job prospects and a less prosperous Australia.
Berg warns against a UK-style future with declining economic ambitions.
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