Economy Under Pressure | Canberra News

Australia’s economy is facing growing uncertainty despite strong job growth—bond markets now expect another interest rate hike by Christmas, fueled by soaring oil prices from Middle East tensions and looming fuel price hikes that could push gas above $2 a liter. While jobs are still being added, unemployment is higher than forecast at 4.4%, with Victoria’s economy slowing and unemployment climbing to 5.1%, signaling potential trouble ahead for businesses and growth.

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