Australian Treasurer Jim Chalmers is seen during a Federal Cabinet meeting in Perth, Australia, on June 3, 2025. AAP Image/Richard Wainwright
Treasurer Jim Chalmers has moved to calm fears of a looming recession after the Reserve Bank of Australia (RBA) signalled the risk could rise if inflation remains stubborn.
The central bank on March 17 lifted the cash rate to 4.1 percent, marking a renewed tightening cycle as a global energy shock linked to the Iran conflict threatens to drive inflation higher.
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