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People shop for fresh produce at the Queen Victoria Market in Melbourne on July 4, 2023, after the Reserve Bank of Australia (RBA) surprised analysts by leaving interest rates on hold at 4.1 per cent in July. William West/AFP via Getty Images
Senior economists have raised alarm bells about any further interest rate rises, warning it could crush business and household confidence.
Deloitte Access Economics Partner Stephen Smith said any further increase in interest rates “cannot be justified” and would “pull the rug out from under a cautious economic recovery.”
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]
