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PHOTO: Saxo Bank strategist Eleanor Creagh – The Industry Spread
The Reserve Bank could be forced to step in with a $300 billion bailout program to rescue Australia’s banks if the housing credit crunch accelerates into a “doom loop” that causes property prices crash by 50 per cent, plunging the country into recession.
That’s according to Saxo Bank’s latest “Outrageous Predictions” report, which outlines a series of “unlikely but underappreciated events” that could send shockwaves across financial markets if they were to occur.
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