The Australian Government expects inflation to cool down quickly

GLONGHUI, May 14 | Reducing inflation is the focus of the Australian Government's 2024-2025 budget. The government expects that by the end of this year, the inflation rate will return to the Reserve Bank of Australia's target range of 2%-3%, which is nearly a year ahead of the Reserve Bank of Australia's forecast. Government and RBA forecasts often differ, but rarely so clearly. If inflation cools down as expected by the government, it could pave the way for interest rate cuts in early 2025, probably just before the next federal election expected to be held in the first half of 2025.

Gelonghui FinanceMay 14 19:14

Australian Govt Holds Out Hope That Inflation Will Cool Quickly -- Market Talk

Getting inflation down is the key focus of the Australian government's budget for 2024-2025.

WSJMay 14 18:57

Australian Government Expects Budget Balance to Deteriorate Sharply -- Market Talk

The Australian government expects a big deterioration in its budget balance over the coming years. Having forecast a small surplus of A$9.3 billion for the year ending June 30, the government expects deficits of A$28.3 billion and A$42.8 billion in the two subsequent years.

WSJMay 14 18:30

Glynn's Take: Budget Doesn't Do Enough to Rule Out Further RBA Rate Hike -- WSJ

The Australian government's budget doesn't appear to do enough to categorically rule out the prospect of a further interest-rate increase in coming months.

WSJMay 14 18:21

Australian Government's Budget Bets On Rapid Fall In Inflation

SYDNEY--Australian Treasurer Jim Chalmers has framed the center-left Labor government's 2024-2025 budget around the themes of cost of living relief, income tax cuts and the tantalizing prospect of a fall in mortgage interest rates by early next year.

WSJMay 14 17:55

Australia bucked the trend and recorded a fiscal surplus for the second year in a row

Against the backdrop of widening budget deficits in most countries around the world, Australian Treasury Secretary Jim Chalmers announced that the Australian Government will once again achieve a fiscal surplus in the 2024 fiscal year, reaching 9.3 billion Australian dollars. This move shows Australia's uniqueness in economic management, and also provides a buffer for dealing with future economic pressure.

FX168May 14 12:14