Release of the Australian annaul budget

Market news

12 May 2015

Release of the Australian annaul budget

The Australian Government forecasts a budget deficit for the 2015-16 financial year of A$35.1 billion;
The Australian Government expects that the mining investment in 2015-16 will be 25.5%;
The Australian Government expects that iron ore price will be $48 per ton in 2015-16;
The Australian government forecasts that consumer price inflation will be 2.5% in 2015-16;
The Australian Government expects the unemployment to reach 6.5% in the 2015-16;
Net debt in Australia is expected to peak at 18% of GDP in 2016-17;
The Australian Government expects the real GDP to grow 2.75% in 2015-16;
The Australian government forecasts that a budget deficit will turn into surplus in 2019-20.

Upgrades and downgrades before the market open

Foreign exchange market. European session: the British pound climbed against the U.S. dollar after the better-than-expected U.K. manufacturing production data

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