International Monetary Fund lifts Australian | Australian Markets
Donald Trump’s tariff battle will value the Australian financial system $13bn this 12 months, the International Monetary Fund says.
The IMF’s main touchstone World Economic Outlook was launched on Tuesday night time, with the report warning of greater inflation within the Australian financial system.
The IMF report mentioned whereas China and the US will cop most of the financial slowdown sparked by the trade tensions, the projections of Australia’s financial system have been downgraded.
The native financial system is now forecast to grow 1.6 per cent this 12 months, down from a forecast 2.1 per cent. In 2026, growth is anticipated to prime out at 2.1 per cent, down from 2.2 per cent.
Inflation is anticipated to achieve 2.5 per cent this 12 months, up from a predicted 2 per cent, the IMF says.
“At a time of extreme global uncertainty our responsible approach to economic management has never been more important,” Treasurer Jim Chalmers mentioned.
“We’re not immune from the turmoil in the global economy but the progress we’ve made together puts us in good stead.”
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