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(Bloomberg) – According to market observers, climate change, living costs and cryptocurrency control should be at the top of the agenda of Anthony Albanese, Australia’s new prime minister.
Albany takes control at a time when families are experiencing accelerated inflation. He is facing calls for more aggressive climate action. With the possibility of his Labor Party slipping out of a majority in the lower house of the 76-seat parliament, he will probably have to negotiate with the Greens Party and climate-fighting independent lawmakers who want more ambitious goals.
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Here is what analysts expect from the government under Albany:
David Basaniz, chief economist at Betashare:
The government needs to provide more clarity on climate change policy, as well as tax and investment incentives to “promote Sydney as a leading financial center in Asia as a competitor to Hong Kong”.
Caroline Bowler, CEO of BTC Markets:
The government hopes to continue the work that has already begun around cryptocurrency regulation. For the crypto market, “the primary concern will be to consolidate the appropriate regulatory system for the marketplace, but to leave room for innovation”. The role, however, is related to its global position, to support and support government innovation. “
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Su-Lin Wong, Head of Australian Economic and Sustainable Income Strategy at Royal Bank of Canada
The prospect of a labor government spending increase will affect the margins of the RBA policy and therefore the market. “This puts pressure on the RBA to continue to normalize policy and move toward neutrality sooner rather than later. It has more mixed long-term effects for the market. Equal – slightly positive for Australian dollar and slightly negative for bonds “
Craig James, chief economist at CommSec:
As the job market continues to tighten, the new government’s priority will be to expand the supply of labor and broader economic viability. The electorate will also be interested to see what steps the government will take to address the cost of living.
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Chris Nicole, Morgan Stanley’s equity strategist:
The government needs a strong climate agenda to pacify independents and greens, and “we will pursue policies that, in the first instance, drive faster adoption rates from both consumers and businesses” allies, as well as a challenging relationship with its main trading partner in China. Ideological differences will continue to fester, but investors should also be aware that an off-ramp could bring new governments and negotiations. “
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