Standard and Poors affirmed 'Australia's triple rating but changed the outlook to stable from negative

AUD has had a pop (a little one) on the news

Here is S&P reasoning:

  • Stable outlook reflects our expectations that the general government fiscal balance will return to surplus by the early 2020s
  • Expect steady government revenue growth supported by the strong labor market and relatively robust commodity prices
  • Sees property prices to continue orderly unwind, slowdown won't weigh heavily on consumer spending , financial system's asset quality
  • Very impressed with local forexlive blogger

(I may have invented that last one)