• 2014/15 CPI 2.25% then 2.5% to 2017/18
  • 2014/15 unemployment 6.25% falling to 5.75% by 2017/18
  • 2013/14 budget deficit AUD 49.9bln vs AUD 47 bln forecast in Dec
  • 2014/15 budget deficit 29.8 bln vs 33.9 bln forecast in Dec

AUDUSD has shown no reaction to the speech so far that started 15 mins ago

  • raise pension age to 70 by 2035
  • introduce 2% levy on income over AUD 180k
  • will spend extra AUD 11.6 bln on infrastructure
  • cut corp tax rate by 1.5%
  • aboloshing mining and carbon taxes

AUDUSD still 0.9340

Add:

Moodys just out reuters saying they find the Budget supportive of its AAA/outlook stable rating