Recession in Australia? Nothing to see right here, say RBA and Treasury

No rescue plan? The Reserve Bank of Australia and the Treasury said they have no research on the potential for a downturn or their possible policy response. Photo: Jessica Hromas

No rescue plan? The Reserve Financial institution of Australia and the Treasury mentioned they don’t have any analysis on the potential for a downturn or their attainable coverage response. Photograph: Jessica Hromas

Australia’s two premier financial establishments appear to have finished no state of affairs planning or battle gaming prior to now 12 months on how they’d reply if the nation plunged into its first recession in nearly 1 / 4 century.

The Reserve Financial institution of Australia and the Treasury mentioned they’d no analysis on the potential for a downturn or their attainable coverage response when requested in separate Freedom of Info requests. The final time Treasury launched paperwork on recession eventualities was in 2014 and that analysis dated again to 2004.

Australia is experiencing the worst run of progress and wages are growing on the weakest tempo for the reason that 1991 recession. The dangers to the outlook come from slumping commodity costs and wobbles in China, the nation’s greatest buying and selling accomplice.

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    bastcilkdoptb February 17, 2016

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