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“The tariffs are going to have a deflationary impression [on Australia’s economy],” Gross instructed Australian Dealer. “First, some persons are going to lose contracts and lose jobs due to this, and that reduces incomes and pushes down inflation. And second, lots of the tariffs might need a diversionary impact. If China cannot promote within the US market, they’re going to concentrate on the Australian market. And that’ll imply cheaper items for us from each nation that is been hit, and which means each nation on the planet. So I believe inflation goes to be on a decrease trajectory now, and that may give the RBA extra scope to chop rates of interest.
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