Trump’s victory means higher RBA interest rates and weakening Australian economy

Australia’s economy faces weaker growth and higher, longer-term interest rates amid incoming US President Donald Trump’s inflationary policies of imposing tariffs on China and running larger budget deficits.

That’s the view among investors and Treasury officials as they brace for an extended period of market volatility after Trump’s victory. The Australian dollar will fall almost 2 cents to 65 US cents against a stronger US dollar, Bitcoin will rise and interest rates in global bond markets will jump higher.

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