IMO, our imminent interest hike from here going forward will induce a protracted recession because apart from global inflation hitting us severely due to our dependance on imports, the fate of the AUD is likely downward which will compound that.
We are following the USA & the World in inflation since 2017 and IMO that will reverse over the next 3 years; that is we'll top 10% while the USA & the World will settle back under 5%
NB: Inflation figures are generally much higher since the start of the Ukraine War in Feb 22
