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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

8 Feb 2017 (AFR) – Economists deeply divided over Australia’s economic path in 2017

[COMMENT: Okay, so who will be right with this crystal-ball gazing?]

(8 February 2017, AFR, p6, by Jens Meyer)

‘At the start of the year economists seem more divided than ever over Australia’s growth outlook. Will 2017 be a year of economic stagnation warranting more Reserve Bank of Australia rate cuts or will growth pick up, putting pressure on the central bank to tighten monetary policy? Last week, Goldman Sachs’ chief economist Tim Toohey put the probability of a rate hike in November “somewhere in the 40s and rising” …’ <snipped…>

‘At the other extreme is Credit Suisse economist Damien Boey, who on Tuesday put out a note predicting zero real GDP growth (nominal growth minus inflation) this year, sparking two RBA rate cuts in 2017.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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