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Australian Economy Slows Amidst Rate Worries
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Australia's economy faces a slowdown with a 0.2% growth in Q4, driven by rising interest rates and living costs, leading to concerns of a hard landing. The Reserve Bank hints at rate hikes as consumer confidence wanes, while ANZ Group sells a stake in AmBank to focus on higher returns.
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How might the potential rate cuts by the Reserve Bank of Australia impact the overall economic outlook and consumer behavior?
In what ways could ANZ Group's divestment from AmBank influence its future profitability and market positioning within the banking sector?
What strategies can the Australian government implement to address the rising unemployment rate and stimulate economic growth amidst the slowdown?
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