Australia’s supply disruptions have “come down dramatically” and the impacts of a deflationary cycle from overseas economies could mean “now is the right time to pause”, says former RBA board member Warwick McKibbin.
“That means we’re likely to see prices falling in Australia if we do nothing with monetary policy and fiscal policy,” Mr McKibbin told Sky News host Sharri Markson.
“We probably still need to get the interest rate up to where it is, both because we still have high inflation and we’re still much lower in interest rates than the rest of the world.”
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