Australia’s protracted election campaign is finally over – signaling a boost to business confidence that could encourage the country’s central bank to delay another interest rate cut, analysts say.
Conservative leader Tony Abbott swept to power in Saturday’s federal election, with his Liberal-National Party coalition on track for a 32-seat majority in the 150-seat parliament, according to election officials.
While the new government’s economic policies are not expected to differ significantly from the outgoing Labor government, analysts say the fact that the election is now over should boost confidence and investment plans that were on hold before the election should now be implemented.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.