With a relatively low debt to GDP ratio, Australia was never at risk of becoming Greece. But Germany, with negative interest rates and scant prospects for economic growth, is an open question.
Employment rising, consumer spending growing but wages are still stuck. Therein lies the problem for the Reserve Bank of Australia, writes Richard Holden.
Today’s GDP figures showing anaemic growth is further evidence that secular stagnation has hit Australia, says Richard Holden from the UNSW Business School.
