Ceasefire breakdown a fresh economic threat: Chalmers
Treasurer Jim Chalmers warned that the US escalation against Iran would impact economic growth and fuel inflation. Global markets fell dramatically and Brent crude prices surged from $74 to $79 per barrel following renewed hostilities. The International Monetary Fund identified the conflict as the largest risk to the global economic outlook, projecting a slowdown in growth to 3 percent.
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Published 09 Jul 2026, 09:45 UTC · Updated 09 Jul 2026, 09:50 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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