‘The Reserve Bank’s forecasts are not forecasting a recession in our economy. Neither are the government’s,’ said Treasurer Jim Chalmers.Australian Treasurer Jim Chalmers is seen during a Federal Cabinet meeting in Perth, Australia, on June 3, 2025. AAP Image/Richard Wainwright3/18/2026|Updated: 3/18/2026Australian Treasurer Jim Chalmers has moved to calm fears of a looming recession after the Reserve Bank of Australia (RBA) earmarked the possibility after raising interest rates a second time.The central bank on March 17 lifted the cash rate to 4.1 percent with blame placed on disrupted global energy prices linked to the Iran conflict.
Treasurer Downplays Recession Fears After RBA Warns of Downturn Risk
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