Australia has been caught up in a sharp downturn being forecast for the global economy as headwinds from the US-China trade war and Brexit tensions bite into growth.IMF warns slashing interest rates close to zero won't be enough to stimulate economic growthMoney markets see a 41pc chance of a rate cut on Melbourne Cup day
In its latest World Economic Outlook, the IMF says Australia's economy will weaken to 1.7 per cent growth in 2019, down a full percentage point from 2.7 percent in 2018. "But the international challenges are a stark reminder of why we must stick to our economic plan which will deliver lower taxes so Australians can keep more of what they earn, more infrastructure to create jobs and boost productivity."
"Monetary policy cannot be the only game in town and it should be coupled with fiscal support where fiscal space is available," the IMF says. "It is time Josh Frydenberg and Scott Morrison brought forward a budget update to fix their forecasts and properly outline an economic plan that supports the floundering economy and better safeguards Australians from global turbulence," Mr Chalmers said.
The printing pressers have worked overtime now we all suffer
No need to thank him all at once
CarmelNunan I understand an amoeba has a better idea of both communications & economics, but; ABC Breakfast lets the communications minister get away with , 'we are doing well', he then recites the rest of mondays discussion papers points for the rest of the interview. Balance?
I though the PM has been praying for the economy. Apparently, not hard enough 🙈
US seems to be doing ok.
No. We are caught up in a government made economic mess, whom have an inability to make any decisions or take fiscal actions to grow the economy!
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Phillip Galea: Accused extremist allegedly targeted left Phillip Galea - news MelbourneA man charged with plotting against left-wing Melbourne groups allegedly tried to make a how-to terror guide he hoped would lead to 'thousands upon thousands' of attacks. 9News Hmmm...how come he isn't passed off as another 'mental illness' case like the extremist Muslims taken down in city streets trying to kill non islamics ? 🤔
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Accused extremist allegedly targeted leftAn accused Melbourne terror plotter has blamed "the left" for the "Muslimisation of Australia", prosecutors say.
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