The chief economist of Australia’s biggest bank has warned the Reserve Bank could crash the economy if it pushes up interest rates much further, as oil prices remain elevated and the full impact of this year’s four rate hikes has yet to be felt. Commonwealth Bank chief economist Luke Yeaman said the RBA risked tipping the country into a recession by tightening policy further, arguing for a conservative approach as households come under increasing pressure.
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Luke Yeaman
Chief economist at Commonwealth Bank