Australia has announced plans for more fiscal spending. Energy Minister Chris Bowen says will step up spending to underwrite new wind, solar and battery projects.did not specify how much the government expects to spendMore here. I'm sure renewables are a great thing, it's the added spending that's a little worrying. I posted earlier on this:Australia scraps AUD 11.6bn of infrastructure projects amid worker shortages and inflation The "but" to this is the net infrastructure spend remains unchangedUnderpinning demand like this is going to ensure higher Reserve Bank of Australia rates for longer. This article was written by Eamonn Sheridan at www.forexlive.com.
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