CommSec Research. Hung parliament: Where to now?
August 23rd, 2010
For the first time since 1940, Australia faces the possibility of a hung Parliament. Are you wondering how it will effect your business? Commsec have released a report outlining how the federal election will effect the economy and financial markets.
Craig James, Commsec’s Chief Economist assures businesses that no matter whether Labor or the Coalition forms a minority government, the big picture doesn’t change.
The public service is still providing the same policy advice, the Reserve Bank still sets monetary policy and financial markets determine the value of the Australian dollar, and both bill and bond yields.
Rural and regional Australia appears to be the biggest winner from the election given that Independent members outside capital city centres are likely to hold the balance of power.
Click here to read the full report.