Tuesday, February 19, 2008
PREDICTAUSTRALIA HEADING FOR RECESSION next year, because of spiralling inflation.
Recession warning
Geoff Wilson from WAM told Sky Business Channel that Australians are in for a tough six to nine months, with the current earnings outlook upsetting investor confidence.I think there is a high probability that we will have a recession in '09 and mainly as a result of the increase in interest rates and keeping inflation under control,' he said.Mr Wilson says it won't be until the next reporting season that we will see how companies have weathered the current market turmoil, especially the major banks such as ANZ. 'What we had back in the early 90's...you had provisions for bad, doubtful debts running on average at six per cent, now last year I think
Posted by chris @ 04:30 AM (526 views)
3 thoughts on “PREDICTAUSTRALIA HEADING FOR RECESSION next year, because of spiralling inflation.”
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geed says:
My Aussie Dollars have made me a packet in the last few months. I’m planning on getting most of it out soon though, can’t be too greedy. When the IR’s start falling next year the AUD will plunge in value IMHO.
geed says:
Any tips on exchaning currency from one country to another?
I was going to use xe.com.
Van Hoogstraten says:
RBA’s mandate is to squash inflation, and it will keep raising interest rates until this is achieved.
The minutes of its last meeting indicated it was thinking of raising rates by 0.5%, and it doesnt seem to have any spineless doves like Blanchflower/Barker etc on its commitee