Jim Chalmers welcomes OECD prediction RBA has reached interest rate peak

Federal treasurer downplays prospect of posting a second successive budget surplus

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The treasurer, Jim Chalmers, has welcomed a projection by the OECD that the Reserve Bank has probably reached its interest rate peak but played down the prospect of the government posting a second successive budget surplus.

The OECD, a body representing rich nations, released an update of its world economic outlook overnight. Its Australian section forecast that the RBA is probably done with rate rises for now.

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