Turnbull’s Liberal-National coalition has nudged ahead of the opposition Labor party as vote counting continues... No shock move from RBA...
Turnbull’s coalition nudges ahead as election count continues
(Bloomberg) -- Prime Minister Malcolm Turnbull’s Liberal-National coalition has nudged ahead of the opposition Labor party as vote counting continues from the weekend election, although it remains unclear whether it will gain enough seats to form a majority government.
The coalition has won 70 seats in the 150-member lower house to Labor’s 67, with independents and minor parties on five and 8 districts still in doubt, according to a projection by the Australian Broadcasting Corp. with 80 percent of the vote counted. Turnbull needs 76 seats to form a majority government.
The nation faces days of political paralysis after the weekend election failed to produce a clear winner. Turnbull has said he is confident of securing a majority, though has begun talks with independent lawmakers and minor parties in case he is forced to form a minority government.
To learn more about the independents who may be kingmakers, click here.
Lacking a strong mandate, whoever leads Australia could be hamstrung in efforts to revitalize the world’s 12th-largest economy. Rating agencies have warned Australia’s top credit score may be at risk unless the budget deficit is reined in by the eventual winner.
The ABC’s election analyst Antony Green predicts the coalition will definitely get 73 seats, though it remains unclear whether it will reach 76, the broadcaster reported.
No shock move from RBA
Australia’s official cash interest rate remains unchanged for the second consecutive month after the Reserve Bank of Australia elected to leave it at 1.75% at today’s board meeting.
The RBA’s decision to leave the cash rate on hold is unlikely to surprise many, with the result of today’s board meeting having been correctly predicted by a number of respected economists and financial commentators.
(Your Investment Property)
(Bloomberg) -- Prime Minister Malcolm Turnbull’s Liberal-National coalition has nudged ahead of the opposition Labor party as vote counting continues from the weekend election, although it remains unclear whether it will gain enough seats to form a majority government.
The coalition has won 70 seats in the 150-member lower house to Labor’s 67, with independents and minor parties on five and 8 districts still in doubt, according to a projection by the Australian Broadcasting Corp. with 80 percent of the vote counted. Turnbull needs 76 seats to form a majority government.
The nation faces days of political paralysis after the weekend election failed to produce a clear winner. Turnbull has said he is confident of securing a majority, though has begun talks with independent lawmakers and minor parties in case he is forced to form a minority government.
To learn more about the independents who may be kingmakers, click here.
Lacking a strong mandate, whoever leads Australia could be hamstrung in efforts to revitalize the world’s 12th-largest economy. Rating agencies have warned Australia’s top credit score may be at risk unless the budget deficit is reined in by the eventual winner.
The ABC’s election analyst Antony Green predicts the coalition will definitely get 73 seats, though it remains unclear whether it will reach 76, the broadcaster reported.
No shock move from RBA
Australia’s official cash interest rate remains unchanged for the second consecutive month after the Reserve Bank of Australia elected to leave it at 1.75% at today’s board meeting.
The RBA’s decision to leave the cash rate on hold is unlikely to surprise many, with the result of today’s board meeting having been correctly predicted by a number of respected economists and financial commentators.
(Your Investment Property)
