Australian Treasurer Jim Chalmers said he does not anticipate a recession despite the Middle East conflict potentially pushing inflation into the high fours, though federal modeling shows economic growth will be hit. Market expectations for a Reserve Bank of Australia rate hike in March have surged to two-thirds probability due to oil price volatility from the regional war, up from one-in-10 odds two weeks earlier.
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Australian Treasurer Jim Chalmers said he does not anticipate a recession despite the Middle East conflict potentially pushing inflation into the high fours, though federal modeling shows economic growth will be hit. Market expectations for a Reserve Bank of Australia rate hike in March have surged to two-thirds probability due to oil price volatility from the regional war, up from one-in-10 odds two weeks earlier.