RBA governor says he ‘doesn’t see a recession on the horizon’

Reserve Bank of Australia Governor Philip Lowe said he “does not see a recession on the horizon” in Australia, as other countries forecast economic downturns.

“Right now the unemployment rate is the lowest it’s been in 50 years, the participation rate is the highest on record, more working-age Australians are in work than ever before,” he said. at a press conference on Tuesday.

“But (if) the last two years have taught us anything, you can’t rule anything out, but our fundamentals are strong.”

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