Australia's economy is confronting increased uncertainty due to downgraded global growth forecasts and rising inflation. The OECD and Fitch Ratings have revised growth projections downward, citing U.S.-initiated trade wars that have heightened tariff rates and inflation, particularly affecting the U.S., Eurozone, Mexico, and Canada.
CROFAM SOCIAL NETWORK
The Bank of England is anticipated to keep interest rates steady at 4.5%, citing global economic uncertainties and the impact of U.S. trade policies. Economists predict potential rate cuts later in the year as inflation concerns persist.
