According to the experts, the Reserve Bank of Australia made a big mistake when it raised the interest rate in November 2023.
They reasoned that the growth of the economy was already slowing down and there was no reason to hike the rates.
According to March’s gross domestic product data, record-high immigration kept the country out of recession.
It was also observed that the ongoing cost-of-living crisis has also impacted consumer spending.
- Published By Team Australia News
