Australia's growth slows to 2.1%, interest rates poised to hit 15-year high

Annual GDP growth fell to 2.1 per cent, productivity shrank, and Commonwealth, NAB and ANZ forecast another rate rise taking the cash rate to 4.6 per cent.

Why it mattersWeak growth and shrinking productivity mean higher production costs will be passed to consumers, keeping inflation high and making rate rises more likely.

AustraliaAustralian families and businesses face higher interest rates and mortgage payments, while growth remains weak and productivity struggles to recover.

Corroborated byperthnow.com.au

✓ Claims checked against the source and corrected before publish. checked 14 h ago