Business
Things can change really quickly, warns Macquarie CEO – The Australian Financial Review
The group believes a situation where house prices tumble 20 per cent and unemployment rises to 9.5 per cent is still a possibility.
Because of the uncertain outlook, Macquarie Group said it was unable to provide any earnings guidance, despite markets turning calmer in the latter part of the six-month period ended September 30.
The $50 billion investment bank warned that the economic outlook was clouded by the “duration and severity of the COVID-19 pandemic”, the uncertain speed of the global recovery and “market conditions and the impact of geopolitical events”, which all made “making short-term forecasting extremely difficult”.
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