Why the ANZ boss doesn’t think a recession is likely

The ANZ boss admits an Australian recession is possible, but says he doesn’t think it’s likely.

Mortgage holders have been hit with a ninth consecutive interest rates rise, with the Reserve Bank warning more could still be on the way.

There are concerns it could send Australia into a recession, but Shayne Elliott has told Neil Mitchell strong levels of savings and job security has Australia well placed to handle any downturn.

Press PLAY below to hear his view of the situation

“The reason I don’t think it’s likely is that, despite the pain and pressure many people are under, Australians have gone into this period in extraordinarily strong shape,” he said.