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Market jitters and weak global outlook means rates should hold

  • Written by: The Conversation
imageNew treasurer Scott Morrison greets RBA Governor Glenn Stevens.AAP/Paul Miller

A weakening outlook for the global economy and jittery financial markets do not portend well for the Australian economy. With latest estimates of inflation at 1.5%, below the Reserve Bank of Australia’s target band of 2-3%, and delayed action in raising interest...

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Full response from Finance Minister Mathias Cormann

  • Written by: The Conversation

A spokesperson for Mathias Cormann told The Conversation by email:

“When we came into Government we inherited spending growth of about 3.7% above inflation on average per annum, which we have brought down to about 1.5% on average per annum above inflation so far.

The improvement in the budget bottom line for 2014/15 of more than $3 billion,...

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