Australian Federal Budget: 2022/23 budget deficit seen at 1.5% of GDP, 2023/24 seen at 1.8% of GDP, 2024/25 seen at 2.0% of GDP
-
Growth: 2022/23 GDP seen at 3.25%; as expected. 2023/24 forecast at 1.5%, 2024/25 seen 2.5%. -
Inflation: 2022/23 CPI seen at 5.75%; as expected. 2023/24 forecast at 3.5%, 2024/25 seen 2.5%. -
Unemployment: 2022/23 seen at 3.75%, 2023/24 forecast at 4.5%, 2024/25 seen 4.5%. - Commodity prices in the budget are assumed to return to long-term fundamentals by the end of Q1 2023.
Reaction details (09:38)
- Not much traction was seen in AUD following the announcement.
25 Oct 2022 - 09:31- Data- Source: Newswires
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts