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Australian Trade Balance in Deficit in May

Australia’s trade deficit shrank in May as the weaker Australian dollar boosted demand for exports and capped imports.  The deficit came in at A$2.75bn from a revised A$4.14bn in April. Economists had forecast a deficit of A$2.23bn. What’s notable about the April deficit is that the original estimate of A$3.89bn was a record in nominal …

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Tougher Home Lending Restrictions Urged to Help RBA

Australia needs tougher measures to rein in booming property prices and give the central bank maximum flexibility on interest-rate settings, Pacific Investment Management Co. said. “Households are exhibiting irrational exuberance,” Pimco’s Aaditya Thakur and Laura Ryan said in a research report in Sydney. “They are placing little weight on broader fundamentals like unemployment that may …

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