More positively, the change in China's COVID policy and a shift to more growth-oriented policies by the Chinese authorities are positive developments for the near term. Lower energy prices in Europe have also reduced some of the downside risk to the global economy, but there are still substantial risks here. A second source of uncertainty is the outlook for household spending in Australia.
3/5  BIS - Central bankers' speeches  People are finding jobs and having more success in obtaining the hours they want to work. This is supporting growth in nominal household income. Furthermore, since the onset of the pandemic, households have saved an additional $ billion over and above what they normally would do.