A leading economist has warned that Australia is among the countries at risk of recession in 2024 after brutal interest rate rises. AMP deputy chief economist Diana Mousina said there was a 40 per cent risk of recession in Australia after one of the most intense cycles of rate rises by the Reserve Bank of Australia (RBA). The RBA has chosen to increase the cash rate 13 times in the past 19 months, taking interest rates from record lows of 0.10 per cent to 4.35 per cent in record time. The RBA was pushed to increase rates amid soaring inflation, pushing up costs for homeowners and businesses in a bid to keep prices down. “Usually,…
