SYDNEY: Australia, until recently one of the fastest growing developed economies, faces tougher times ahead as its currency rampages higher and exports flounder.
The root of the problem is a bubble-like real estate boom and strong consumer borrowing, which analysts say the central bank is reluctant to support with interest rate cuts that would make the high-yielding currency less desirable.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!