The Fitch Ratings Agency has once again reaffirmed Australia’s government debt at AAA, a credit rating that has remained unchanged since 2002.
While Australia’s AAA-rating remains safe for the time being, the Aussie economy continues to struggle under oppressively stubborn growth, and a sluggish housing market that remains at risk to federal elections sometime before May,
Growing trepidation at the potential for knock-on growth risks from the US-China trade war could also see the Antipodean economy in an external tailspin, but for now the Australian government and Reserve Bank of Australia (RBA) will be patting themselves on the back for maintaining their AAA-rating as the central bank carries on with a fiscal policy that sees the RBA unmoved on rates (or any other major monetary policy) for over two years.
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