NAB Morning Call

Friday 5th December 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABAustralia has managed what many other economies haven’t. We have brought down inflation without driving the economy into recession. NAB’s Sally Auld says it’s a direct contrast to the RBNZ approach, which was to hit the economy hard, and slower demand would mean there was lots of spare capacity, making it easier for the economy to re-establish itself. The RBA approach has been much more softly-softly, which means jobs have been maintained and growth has continued. The problem is, there’s much less spare capacity. If we see too much growth, then prices could rise, forcing the RBA to lift rates to slow things down. Is that where we are now? Can you slow the economy with just one rate rise? Sally talks to Phil about what could happen next. Hosted on Acast. See acast.com/privacy for more information.