Westpac CEO Warns Iran War May Spark Recession in Australia

Westpac Banking Corp.’s chief executive officer Anthony Miller has warned the conflict in the Middle East has raised the risk of a recession in Australia, saying that it was unclear how long supply chain disruptions from the Iran war could take to work their way through the economy.

Miller, who leads one of the nation’s big four banks, said in an interview with the Australian Broadcasting Corporation that “circumstances have changed so much that a recession is a chance.”