The Australian government announced last week that it will invest $12 billion into manufacturing and updating its own missiles, citing geopolitical tensions and a need to reduce its reliance on partners like the U.S. to provide munitions.
Tag: Australia
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AUSTRALIA POISED FOR RECESSION
Australia’s economy has flatlined and could easily tip into recession, the Australian Bureau of Statistics (ABS) warned last week.
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AUSTRALIA’S CENTRAL BANK WILL KEEP INTEREST RATES HIGH
In February, the Royal Bank of Australia (RBI) noted “encouraging signs” that inflation was waning and hinted at an interest rate cut by the end of this year.
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AUSTRALIAN POLITICAL GANG TEAM UP WITH MEDIA TO SMASH ANTI-GENOCIDE PROTESTS
Small anti-genocide protests have broken out on campuses across Australia, and while they have been peaceful, the country has cracked down on these protesters with the help of the media.
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AUSTRALIA INCREASES MILITARY SPENDING BY $32 BILLION
With an eye on China, Australia announced last week that it will inject an additional $32 billion over the course of 10 years to modernize its military so it “can resist coercion and maintain” its way of life in “a much less certain region and world.”
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AUSTRALIA’S CENTRAL BANK TRIMS 2024 GROWTH FORECAST
The Reserve Bank of Australia (RBA) lopped a half-point from its growth forecast in the current fiscal year ending 30 June. The country’s GDP will grow by 1.3 percent, the bank said, not the 1.8 percent it had expected in November.
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AUSTRALIA WILLING TO FOLLOW U.S. TO WAR, ANNOUNCES PLANS TO PRODUCE GUIDED MISSILES FOR WASHINGTON
It’s WWIII and you just don’t know it yet.
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AUSTRALIA SENDS MORE MONEY TO KEEP BLOODYING UKRAINE KILLING FIELDS
Despite Russia posing no threat to Australia, Canberra announced last week that it will provide Ukraine with another $110 million in aid.
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AUSTRALIA’S CENTRAL BANK SURPRISES WITH QUARTER-POINT RATE HIKE
The Reserve Bank of Australia (RBA) raised its base interest rate a quarter point last week, only a month after it announced a pause in rate increases so it could assess the economic impact of its higher rates.
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AUSTRALIA’S INFLATION RATE HITS 32-YEAR HIGH
Inflation in Australia rose to 7.3 percent in this year’s third quarter, its fastest clip since the same period in 1990, which at the time caused the country’s central bank to raise interest rates so high that the economy lurched into recession.