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Australia can still avoid a recession, RBA Governor Philip Lowe told Parliament in dual grilling sessions in Canberra – while he was keen to remind the country of the need for further belt-tightening and a drop in inflation expectations to keep the path to a soft landing open.
More rises are likely to come but analysts say a confluence of factors may cap the official rate at around 3.1 per cent in 2023, providing relief to Australian households.