According to The Australian, HSBC chief economist Paul Bloxham now puts the risk of Australia falling into recession at around 50%.
Bloxham expects the RBA to lift the cash rate by 25 basis points tomorrow, taking it from 4.35% to 4.60%.
Bloxham is also expecting property prices to fall 13% from their peak, which would be the biggest decline in up to 40 years.
All 29 economists surveyed by Bloomberg expect another 25-basis-point hike this week, although they're not certain about what happens in November.
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The article, shortened and in plain language
The Reserve Bank of Australia has already lifted rates 3 times this year, and another 2 increases could be on the way.
According to The Australian, HSBC chief economist Paul Bloxham now puts the risk of Australia falling into recession at around 50%.
With economic growth already slowing, there's a chance the RBA could go too far with rate hikes and push the economy into recession.
Bloxham expects the RBA to lift the cash rate by 25 basis points tomorrow, taking it from 4.35% to 4.60%.
HSBC expects economic growth to come close to stalling around the end of the year, potentially leaving Australia facing a technical recession.
Bloxham is also expecting property prices to fall 13% from their peak, which would be the biggest decline in up to 40 years.
Tomorrow's RBA decision is the next big one to watch, followed by Wednesday's inflation figures.
All 29 economists surveyed by Bloomberg expect another 25-basis-point hike this week, although they're not certain about what happens in November.
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