Budget

Treasurer Wayne Swan delivered one of the biggest budgets ever for the nation today for the Australian Budget 2008. Economists and business groups hailed the budget and expressed their confidence in the budget. The Australian financial market also expressed their confidence and expected that the proposed budget shall help to reduce interest rates and benefit the financial markets as well. It is wise to understand that the budget surplus is heavily contributed by the boom in resource prices which is being fuelled by demand in China.

Investors and share traders at the Australian stock exchange are cautious before the introduction of new budget to be introduced on Tuesday. Traders also fear yet another surge in crude oil prices and problems in the financial markets. Thus, they would be more focussed towards the domestic events in coming few days.