As part of its economic outlook revisions, the International Monetary Fund has slashed GDP expectations for Australia.

expects +3.8% in 2022

  • compared with its +4.2% forecast issued in April

expect s +2.2% for 2023

  • compared with +2.5% issued in April

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The IMF says on the global outlook, its "darkened"

  • growth across Asia and the Pacific is poised to slow further amid the continuing impact of Russia’s invasion of Ukraine and other shocks
  • several economies will need to raise rates rapidly as inflation is broadening to core prices
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