No austerity: Frydenberg to fire up economy in major shift to budget policy
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Treasurer Josh Frydenberg will use his post-pandemic budget to deliberately run the economy as fast as possible in a bid to drive the nationâs jobless rate below 5 per cent, upending the federal governmentâs fiscal policy.
In a major shift in rhetoric and budget policy, Mr Frydenberg will on Thursday use a speech to bring the governmentâs spending plans in line with the Reserve Bankâs own aggressive monetary policy stance while abandoning any rush to post-pandemic austerity.
Australian dlr unsettled by soft inflation, finds strength in commodities
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No austerity: Frydenberg to fire up economy in major shift to budget policy
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No austerity: Frydenberg to fire up economy in major shift to budget policy
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Inflation surprise could fuel new debate in Australia
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A surprise lift in inflation this week could place pressure on the Reserve Bank to adjust its bond-buying program and set off a fresh debate on when and how fast inflation and interest rates could rise.
The debate around inflation has intensified in the US with former Treasury secretary Larry Summers suggesting the idea inflation can’t ratchet up quickly is “just plain wrong”.
In the US, core inflation for March rose more than expected to 1.6 per cent from 1.3 per cent, while the headline consumer price index rose 0.6 per cent to 2.6 per cent, a little softer than expected.