Judo Bank Chief Economic Adviser Warren Hogan explains how the Australian economy risks experiencing “1988 syndrome” if inflation isn’t addressed in a timely manner.
Australia risks ‘1988 syndrome’ if inflation isn’t addressed timely
Mr Hogan predicts the RBA will be forced to hike interest rates again this year as inflation remains sticky.
“The risk we face is if we don’t address our inflation problems in a timely manner, we get what I call the 1988 syndrome,” he told Sky News Australia.
“Thar’s that you get behind the game and you have to put rates up a lot.
“Of course, back then that was a 17 per cent cash rate … you’ve got to be ahead of it.”
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