Australia’s GDP growth slumps to record low
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Australia’s GDP growth has reached a record breaking low of 1%, the lowest growth since 1991-92 according to the Australian Bureau of Statistics.
Treasurer Jim Chalmers claimed this slow down is because global economic uncertainty, inflation and interest rates of the reserve bank with fears of a recession.
The Treasurer has recently taken aim at the Reserve Bank, prompting debate over the role of the RBA.
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