SHANE OLIVER FUNCTION

PHOTO: Left to Right - Troy Chapman (Chamber Executive), Shane Oliver and Matthew Wales (President Peninsula Chamber of Commerce)

The Peninsula Chamber of Commerce has welcomed the recent visit by acclaimed economist Shane Oliver to the Peninsula Chamber of Commerce breakfast function at Margarita Daze at Ocean Beach.

“It is always a pleasure to have Shane Oliver visit the Peninsula and share his insights on the national and international economy”, said Peninsula Chamber President Matthew Wales.

“Shane is the Chief Economist & Head of Investment Strategy at AMP and has a lifetime of knowledge that he gladly shared with our members at Margarita Daze”.

“Whilst local businesses are focused on meeting the day-to-day challenges of business on the Peninsula, it is important to be able to access highly acclaimed economists like Shane Oliver so as to get a better understanding of what drives consumer habits and trends”, said Matthew Wales.

“There is no doubt that the US/Iran War has impacted on global oil supply and has created immense uncertainty but odds are that the US will want to wind this up soon so any outbreak of stagflation (higher inflation and weaker growth) should be brief”, said Shane Oliver.

Shane Oliver expects the RBA to hike rates a bit further but by next year its likely to be cutting rates.

“So expect an okay but slightly tougher period in the short term but better economic conditions through next year”, said Shane Oliver.

“Despite these uncertain times, the Chamber maintains a confident outlook towards the end of the year”, said Matthew Wales.

“The next twelve months are important bearing in mind that we are due for a State Election in March 2027 with the NSW State Government keen to show that it has delivered on its promises”.

END

Matthew Wales
President
Peninsula Chamber of Commerce