• Australia budget: government announces $1 bln national housing infrastructure facility and tax breaks for first home buyers. Cpi inflation at 2 pct in 2017/18, 2.25 pct in 2018/19 and 2.5 pct through 2020/21. AUD/USD up from multi month lows

Market news

9 May 2017

Australia budget: government announces $1 bln national housing infrastructure facility and tax breaks for first home buyers. Cpi inflation at 2 pct in 2017/18, 2.25 pct in 2018/19 and 2.5 pct through 2020/21. AUD/USD up from multi month lows

  • Toughens multinational tax anti-avoidance law, introduces new tax measures to hit "black economy"

  • New 6 bps levy on big banks' liabilities, effective july 1, to secure a$6.2 bln in savings

  • Banks to face bigger fines, stringent punishment for breaching misconduct rules

  • Government to introduce foreign worker levy to raise a$1.2 bln over 4 years

  • Government to deliver a$75 billion in infrastructure funding over 10 years

  • Sees gdp growth at 2.75 pct in 2017/18, 3 pct through 2020/21

  • Unemployment rate at 5.75 pct in 2017/18, 5.5 pct in 2018/19, 2019/2020 and 5.25 pct in 2020/21

  • 2018/19 budget deficit at a$21.4 bln vs a$19.7 bln deficit seen in december


Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.