Fitch Ratings, one of the big three credit rating agencies, commented on the latest leadership changes in Australia and said that it is unlikely to have a near-term credit impact for the sovereign.
Key quotes:
“¢ No indication that frequent leadership changes have undermined economic growth.
“¢ Expects the economy to hold up at 2.8% in 2018 and 2.7% in 2019, 2020.
“¢ Government’s thin parliamentary majority likely to remain until next year’s election.
“¢ But repeated bouts of political turmoil could eventually weigh on business confidence.
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