Australian Westpac Leading Index Points to Modest Growth

MT NewswiresDec 18 17:25

Insurance Australia Group Limited Analysis and Elliott Wave Forecast [Video]

FXStreetDec 18 15:55

Australia's Treasury Minister: The government predicts that the budget deficit will widen and economic growth will weaken.

Gelonghui, December 18 | Australian Treasurer Chalmers predicts that the government's financial outlook will deteriorate significantly due to falling CSI Commodity Equity Index prices and an increase in spending commitments that erode the budget surplus. The Australian government's mid-year economic and fiscal outlook report expects that, compared to the May forecast, the budget balance over the next four years will worsen by approximately 22 billion Australian Dollar (about 13.94 billion USD), and a budget deficit is expected to become the norm over the next decade. The budget update report released on Wednesday is one of the last official statements from the Australian government this year, as the country will hold a federal election before mid-May next year. The budget deterioration is expected to trigger concerns in Australia.

Gelonghui FinanceDec 18 09:18

Australia expects the budget deficit to widen before the 2025 election, with the first interest rate cut possibly occurring in April or May next year.

The mid-year fiscal update indicates that due to increased government spending, Australia's budget is expected to fall further into deficit in the coming years, while the Australian election will be held in less than six months. According to the mid-year economic and fiscal outlook released on Wednesday, although the budget deficit for this fiscal year is expected to narrow slightly to 26.9 billion Australian Dollar (17.1 billion USD), it will expand to 46.9 billion Australian Dollar by 2025-26, which is 1.6% of GDP, and will remain at or above 1% of GDP. The Treasury has also slightly downgraded the economic outlook for this fiscal year and the next fiscal year due to rising interest rates dragging down private sector activity.

FX678 FinanceDec 18 08:20

Australian Budget Update Set to Highlight Return to Deficits -- Market Talk

WSJDec 18 06:14

Australia Consumer Sentiment Slips on Renewed Concern at Outlook

BNN BloombergDec 17 07:30