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AAP
AAP
Business
Jacob Shteyman

Top forecaster's dire prediction if Iran war drags on

Reserve Bank Iran Paul Bloxham Australia Luci Ellis Inflation Oil Interest Rates Economy HSBC
Iranian Australians welcomed the US-Israeli war on Iran, but the economic fallout is mounting. (Dave Hunt/AAP PHOTOS)

One of Australia's top economic soothsayers has a grim prediction if the war in the Middle East is not resolved soon.

HSBC chief economist Paul Bloxham forecasts Australia's economy will contract in the June and September quarters if oil prices spike to $US140 a barrel and stay above $US100 a barrel through 2026.

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