Australia

Hockey: Australian Budget on a Credible Trajectory Back to Surplus

Australia’s government budget deficit will undershoot market forecasts and keep improving over time, Treasurer Joe Hockey said – just hours before delivering his annual policy package.  Speaking to the media, Hockey said the market was forecasting a shortfall of around A$40-A$41 billion but the actual deficit would “beat that”. Hockey said the government had been …

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NAB Survey: Business Confidence Flat in April

Business confidence remained steady in April, while conditions eased slightly, as firms await the federal budget tomorrow night.  NAB’s widely watched Monthly Business Survey showed that confidence held at +3 last month, which is a little below average levels. The bank’s economists said that is not a strong enough level to see economic improvement.  “Until …

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RBA May Still be on an Easing Trajectory

Australia’s central bank lowered its growth forecast, predicted higher unemployment and said it was prepared to adjust policy if needed as business spending fails to fire and China struggles with an economic transition. “The board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand,” the Reserve Bank …

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RBA Remains Silent on Rate Outlook

Australia’s central bank trimmed its inflation and growth forecasts on Friday, yet highlighted green shoots in the economy and gave no clear indication that it would cut interest rates again anytime soon.  In its 70-page quarterly monetary policy report, the Reserve Bank of Australia (RBA) said weakness in business investment meant the economy would continue …

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