More Interest Rate Increases Are Warranted, Says IMF

International Monetary Fund logo outside the headquarters building during the IMF/World Bank spring meeting in Washington on April 20, 2018. Yuri Gripas/Reuters

Australia is on track to dodge a recession but the International Monetary Fund says more interest rate hikes are warranted.

The IMF has slightly downgraded its growth expectations for Australia and anticipates growth slowing from 3.6 per cent in 2022 to 1.6 per cent in 2023, down a touch from the 1.7 per cent predicted in November.