TMH Market Update: Australia eyes surprise second surplus as Treasurer Chalmers reveals better-than-expected budget deficit
US inflation came in at 3.1 per cent overnight for November, down 0.1 per cent from the 3.2 per cent read in October.The US Federal Reserve meets tonight, and it’s still widely tipped that rates will be left unchanged at 5.25 per cent to 5.50 per cent.Back home – as Australian inflation lags behind the USA’s – the overall mood in the room seems to be positive. The US looks set to get close towards the two per cent target in 2024.At a press conference today, Treasurer Jim Chalmers said while it’s not yet forecast, the nation is “within striking distance” of a surprise second surplus. The Albanese government delivered the first budget surplus in 15 years last financial year.The news has taken a positive turn towards the local share market– with the ASX200 trading in the green–up nearly half a per cent in early afternoon trade.Air New Zealand has shed 1.5 per cent after adjusting its first-half earnings guidance.Phase One boasts a targeted annual production capacity of 24,000 tonnes of l
