Balancing act — the 2024 economic tightrope

Professor Robert Brooks, Professor of Economics, Monash University

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What is the economic outlook for 2024 and how will depleted household savings influence the situation? Monash University Economics and Business Statistics Professor Robert Brooks, explains the reasons behind a more cautious approach to consumer spending, which may impact many small businesses.

Professor Brooks highlights the government’s policy choices, including infrastructure investments and addressing energy pricing to further manage inflationary pressures. He emphasizes the importance of policy certainty for households and businesses and forecasts a narrow path to inflation reduction while staying vigilant for any unexpected shocks.