Australia recession risk climbs as OCR seen higher

The chances of a recession in Australia climbed to 38% from 35% in April, according to 14 economists. — Bloomberg

SYDNEY: Australia’s risk of an economic downturn edged up in May, a Bloomberg survey shows, as the central bank is expected to keep interest rates elevated for an extended period in order to beat back inflation.

The chances of a recession in Australia climbed to 38% from 35% in April, according to 14 economists.