Amid job cuts at Qantas, Canva and Nab, the R-word is back in circulation. Is there anything the government can do?The acknowledgment last week by Michele Bullock, the governor of the Reserve Bank of Australia, that the cumulative effect of this year’s five increases in interest rates “is going to make people feel like it’s a recession” has put the R-word back into circulation.It comes as Qantas becomes the third major Australian company in three weeks to announce large-scale job cuts, following restructures at Canva and National Australia Bank. Continue reading...
What would tip the Australian economy into a recession we ‘don’t have to have’? | Saul Eslake
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The Guardian - UK BusinessBy Saul Eslake
EXECUTIVE SUMMARY
Amid job cuts at Qantas, Canva and Nab, the R-word is back in circulation. Is there anything the government can do? The acknowledgment last week by Michele Bullock, the governor of the Reserve Bank of Australia, that the cumulative effect of this year’s five increases in interest rates “is going to make people feel like it’s a recession” has put the R-word back into circulation. It comes as Qantas becomes the third major Australian company in three weeks to announce large-scale job cuts, followi
Key Takeaways
- What would tip the Australian economy into a recession we ‘don’t have to have’?
- Amid job cuts at Qantas, Canva and Nab, the R-word is back in circulation.
- Is there anything the government can do?
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Published originally on The Guardian - UK Business
