Australia fires dual fiscal-monetary shots to support economy
Government hands down an expansionary budget hours after central bank eases policy for the first time in a year
Sydney
AUSTRALIA injected a double-dose of stimulus as the government handed down an expansionary budget hours after the central bank eased policy for the first time in a year.
Treasurer Scott Morrison forecast a A$37.1 billion (S$38 billion) deficit in the 12 months through June 2017, wider than he predicted six months ago. His plan for growth: cut company taxes, boost infrastructure spending and provide income-tax relief. That's assuming he remains in office following an expected July 2 election.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Thailand to increase daily minimum wage to 400 baht in Oct
UK set for weak growth and highest inflation in G7, OECD says
German manufacturing downturn eases in April, PMI survey shows
India RBI's FX intervention eases as conditions turn favourable for rupee
Swiss inflation accelerates faster than expected in April
OECD upgrades global growth outlook as US outperforms