Westpac CEO believes Australia now pulling out of cost of-living crisis

Australia’s economy may be recovering from inflation’s impact, with Westpac CEO Anthony Miller highlighting signs of easing borrowing pressures. However, a slight rise in recession likelihood from 42.5% to 45% underscores ongoing global risks. Despite a 1% profit drop, early signs of stabilization, such as declining delinquencies among borrowers, suggest the economy is beginning to turn, with Labor’s re-election providing stability amid an uncertain outlook.