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The oil tanker begins its turn, via Morgan Stanley:
“We have removed rate hikes from our 2020 outlook, as our AlphaWise research points to fragilities in the household sector and a more prolonged consumer adjustment.”
“Weakness in the housing/consumer sectors should continue through 2019,and we think further forecast downgrades from the RBA and the adoption of an easing bias is likely.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.