Australian Treasurer Chalmers sees substantial economic slowdown, jobless up, CPI down

<p>Australian Treasurer Jim Chalmers spoke on Australia public broadcaster TV show over the weekend, He said he expects a substantial economic slowdown and for unemployment to pick up as inflation eases</p><ul><li> “As the Reserve Bank forecasts and the Treasury forecasts have inflation moderating over the coming months, they do have a tick up in unemployment as well” </li><li>“I think the slowdown in our economy is expected in those forecasts to be significant, and that will have implications for the unemployment rate” </li><li>growth slowdown is “a consequence of higher interest rates and global economic uncertainty” </li></ul><p>-</p><p>None of this is surprising, Chalmers reiterating existing forecasts from the RBA and Treasury. </p><p>Reserve Bank of Australia Deputy Governor Bullock will be the new RBA Governor from September 18.</p><ul><li><a href="https://www.forexlive.com/centralbank/new-rba-governor-announced-to-replace-lowe-michele-bullock-20230713/" target="_blank" rel="follow" data-article-link="true">New RBA Governor announced to replace Lowe: Michele Bullock</a></li></ul><p>She'll be dealing with higher unemployment in the Bank's considerations on policy setting ahead. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.