Australia faces a growing risk of recession in 2013, thanks to a scaling back of the mining...

|By:, SA News Editor

Australia faces a growing risk of recession in 2013, thanks to a scaling back of the mining boom, says Deutsche Bank, warning of "dangerously complacent" policymakers (indeed, see the RBA minutes from last night). Look for the terms of trade - the difference between what the country pays for imports vs. what it receives for exports - to collapse 15% this year. The aussie, meanwhile, continues along near a 30-year high.