Australia should keep lifting interest rate and deliver stage-three tax cuts, IMF says

In annual review, agency says it expects a soft landing' for the nation's economy with risks skewed to the downside'

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Australia's Reserve Bank should keep lifting the interest rate to ensure inflation is contained, and the country should stick with plans to introduce stage-three tax cuts planned for 2024, the head of the International Monetary Fund's Australian division said.

Wrapping up two weeks of talks with the Albanese government as part of an annual review, the IMF's division head, Harald Finger, said on Wednesday the agency expected a soft landing" for the Australian economy with risks skewed to the downside".

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