GSFM’s Stephen Miller argues that America’s AI‑driven productivity surge is giving the Fed room to breathe, while Australia’s persistent productivity slump risks keeping inflation sticky and rates higher for longer — a stark divergence that puts the RBA in a far tougher spot.

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Stephen Miller

Stephen Miller is GSFM’s market strategist. His expertise in international economic and policy analysis, as well as domestic and global economic and financial market developments, has resulted in him becoming a regular commentator on central banks, rates and inflation.

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.