Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Australia's Treasury forecasts that net debt will grow to AUD1.16 trillion by 2025-26 and cost cumulative net interest payments of AUD76.1 billion over that period, according to Budget papers released Tuesday.
Despite revenue being revised up by AUD58.7 billion in 2022-23 and AUD157.7 billion over the four years to 2025-26, the Budget forecasts a cumulative AUD181.8 billion in deficits out to 2025-26 amid rising costs for the National Disability Insurance Scheme, increased defence spending and higher interest costs on government borrowing. Gross debt as a percentage of GDP is expected to climb from 37.3% in 2022-23 to 43.1% in 2025-2026, with a longer term projection of 46.9% in 2032-33.
Other macro forecasts see annual inflation expected to peak at around 7.75% in the December quarter of 2022. Inflation is forecast to be 5.75% in June 2023 before falling to 3.5% in the June 2024. Inflation eases to 2.5 per cent, within the Reserve Bank of Australia's target band, in 2024–25. The cash rate is assumed to peak at 3.35% in the first half of 2023.
The unemployment rate is forecast to increase to 3.75% by the June quarter 2023 and then 4.5 per cent by the June quarter 2024. The unemployment rate in September was 3.5%.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.