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<p>Westpac survey results signal growing sense of ‘helplessness’ while Jim Chalmers faces growing pressure to rein in spending</p><p>Confidence among mortgaged households has crashed to its lowest level in more than three decades amid a growing sense of “helplessness” about the economy, even as a dramatic shift in financial markets suggests there is now a st
Australia’s last recession left many people better off. A recession this time around may be very different.
The country’s biggest business lender said household savings buffers remained strong, but arrears have deteriorated and economic growth is expected to slow.
Markets and economists expect the Reserve Bank to push interest rates up to 4.85 per cent on Tuesday.
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