Could Australia experience a recession in the next few years? Absolutely.
Is it probable? Not yet, but let's explore how it might unfold.
Speculating about a recession is fraught with difficulties. For one they are very rarely predicted -- and almost never by central banks -- because they are by their very nature extreme outcomes. Those who do predict recessions are often viewed as crackpots, though when they get it right they get to have their 15 minutes of fame.