IMF cuts Australia’s growth forecast for 2021 and raises prospects for 2022

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In its latest report, the International Monetary Fund (IMF) cut Australia’s GDP growth forecast for 2021, while raising the outlook for 2022.

Key comments

“There are short-term downside risks, they are largely balanced afterwards. “

“They should cut back on loans for cool down the housing sector.”

“Monetary and fiscal policy must remain stimulating to support the economy during a difficult period of lockdowns due to the coronavirus.”

“Interest rates at historic lows have driven an increase in house prices and indebtedness, this must be content. “

“The rise in house prices raises affordability and stability concerns financial. “

“Macroprudential policy should be tightened and loan regulations closely watched.”

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