Feb 8, 20100

Australia Removing Bank Funding Guarantee Scheme

Categories: Taxation in Australia

The Australian Government will soon cease to operate the Bank Funding Guarantee Scheme (BFGS), which aided the stability of the country’s financial institutions during the most significant global economic contraction since World War II. Yesterday it was announced that from March 31st the Australian BFGS will be withdrawn, based on a recommendation from the Council [...]

The Australian Government will soon cease to operate the Bank Funding Guarantee Scheme (BFGS), which aided the stability of the country’s financial institutions during the most significant global economic contraction since World War II. Yesterday it was announced that from March 31st the Australian BFGS will be withdrawn, based on a recommendation from the Council of Financial Regulators. The scheme was established in October 2008 as a means of instilling a greater confidence in the Australian banking system by providing a guarantee on ... Read More

Jan 29, 20100

Australian Inflation Remains Low, Economy Underutilized

Categories: Taxation in Australia

Newly released Australian Consumer Price Index (CPI) figures show that the country’s inflation was 2.1 percent for the first two quarters of the current financial year, at the lower end of the Australian Reserve Bank’s (ARB) target spectrum. Although the relatively small inflation is gladly greeted by consumers across the country, ARB economist claim that [...]

Newly released Australian Consumer Price Index (CPI) figures show that the country’s inflation was 2.1 percent for the first two quarters of the current financial year, at the lower end of the Australian Reserve Bank’s (ARB) target spectrum. Although the relatively small inflation is gladly greeted by consumers across the country, ARB economist claim that it is indicative of an economy that is not being fully utilized and has room for further growth. The newest figures, released on January 27th, represent a ... Read More