Paul Bloxham: HSBC chief economist on what the oil price increases mean for both sides of the Tasman

The Middle East conflict continues on for another week, and it's led to economic forecasters revising their predictions for recovery.

Significant cuts to growth, higher inflation, lower investment, household consumption, and higher unemployment appear to be on the cards, according to new reports. 

HSBC chief economist Paul Bloxham says it's unclear how the central banks on both sides of the Tasman will proceed. 

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