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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.
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Free AccessWestpac on the the Mid-Year Economic &....>
AUSTRALIA: Westpac on the the Mid-Year Economic & Fiscal Update (MYEFO). "The
economic growth forecasts (real and nominal GDP) have been rounded down for
2017/18 but are unchanged thereafter. The 2017/18 budget deficit is projected to
be $23.6bn, some $5.8bn lower than the May Budget forecast of $29.4bn. This is
more than accounted for by a $6.9bn boost from revisions to the forecasts. The
improved budget position is driven by revisions to the forecasts, providing a
boost of $11.2bn, with revenues $2.4bn higher and expenses undershooting by
$8.8bn. Higher company tax returns and better than expected superannuation tax
receipts more than offset the impact of slower wages growth and softer economic
growth in 2017/18. The budget balance is forecast to improve from a deficit in
2017/18 of $23.6bn (1.3% of GDP) to a surplus in 2020/21 of $10.2bn (0.5% of
GDP). Real GDP growth was downgraded to 2.5% for 2017/18 (from 2.75%). On wages
growth, the government still expects this to accelerate across the forecast
period, albeit with the profile lowered by 0.25% each year to reflect the weaker
starting position. The risk is that even this revised profile is too optimistic
given ongoing structural headwinds."
To read the full story
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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.