Australia: Goes for election this weekend - ANZ

Research Team at ANZ, suggests that it hopefully won’t be as dramatic as the Brexit vote, but Australia’s federal election will be held on Saturday.

Key Quotes

“Opinion polls are fairly evenly balanced, although betting markets suggest a Liberal-National Coalition win. What will be important is the extent of the vote for the minor parties in both the House of Representatives and the Senate.

The Labor Party’s policies point to slightly larger deficits over the next four years relative to the Coalition, but with larger surpluses in subsequent years. The election is unlikely to have an impact on monetary policy, where we think the RBA is likely to cut rates in August given very low inflation and Brexit risks.”