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Economists have claimed Anthony Albanese's new tax cut scheme set to benefit middle-income earners would add pressure to inflation and keep interest rates higher for longer.
The NAB Business Confidence Survey reveals that economic growth slowed down by the end of 2023, despite outperforming expectations earlier in the year.
Pound Australian Dollar (GBP/AUD) Exchange Rate Stagnant despite Falling UK Government Borrowing
Banks say tax tweaks approved by Anthony Albanese’s cabinet may slow pace of RBA interest rate cuts and further reforms are needed to fill budget shortfalls
Australia NAB Business Confidence fell rose from -8 to -1 in December. However, Business Conditions fell from 9 to 7. The decline was observed across several key areas: Trading conditions dropped from 13 to 10, while Employment conditions also decreased slightly from 8 to 7. Profitability conditions remained steady at 6.