Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

As the member for Werriwa and other honourable members know, volatility in global financial markets, brought about by rapidly rising interest rates around the world, is having an impact on our economy and on all of the major advanced economies around the world. We have been engaging with APRA, ASIC, the RBA, Treasury and the banks, and their advice is that our institutions are well capitalised and well regulated, and that we are well placed to deal with the volatility that is coming at us. What we're seeing on global markets is feeding into some uncertainty in the global economy, which is now tempering some of the slightly more upbeat forecasts that we had been seeing for the advanced economies.

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