Australia may avoid ‘economic cliff’ amid inflationary pressures

Sky News business editor Ross Greenwood says that if inflation “gets out of hand” interest rates will need to rise higher to get inflation out of the Australian economy.

Mr. Greenwood said Treasurer Jim Chalmers’ real concern is rising salary expectations amid rising inflation.

“The expectation is that if they can get through this quickly, then you may not actually have the real economic cliff that other countries around the world might face,” he told Sky News Australia.

“Australia can avoid it.”