The interest rate of AU10Y and AU2Y are both increased since June 2020 and the AU10Y interest has always been above the AU2Y interest rate. Based on this fact, we could say that the bond yield curve of Australia is a normal yield curve (which means the shape of the bond yield curve is upward-sloping) since 10 years bond has more yield than 2 years bond.
The slow increase in interest rates shows the health of the economy. However, since the rapid increase in the interest rate in Australia (1073% increase since June 2020 in AU2Y and 278% increase since in AU10Y), the cost of borrowing money becomes higher in a short time can cause an economic recession in the near future. The rapid growth of interest rates usually happens after a high inflation rate when the government wants to keep the inflation rate low and reduce the spending power, just as what the U.S. government does for nowadays.
