The Australian share market is posting modest losses ahead of tomorrow's federal budget, forecasting weaker economic growth but a quicker return of inflation to the RBA's target range. Follow live.
The Australian share market is posting modest losses ahead of tomorrow's federal budget, forecasting weaker economic growth but a quicker return of inflation to the RBA's target range.
The CBA says that could allow for a “mildly stimulatory … overall setting of policy – but not enough to have a significant impact on the expected path of monetary policy.”The Wage Price Index is forecast to show wages up around 0.9% over the quarter and 4.2% for the year. The auspices are not brilliant, with the ASX futures pointing to a slight fall on opening despite Wall Street finishing the week with its eighth gain on the trot.
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