Original article by Patrick Commins, Jonathan Shapiro
The Australian Financial Review – Page: 6 : 4-Sep-19
The Commonwealth Bank’s Richard Grace says the current account is unlikely to remain in surplus, citing the level of the nation’s net income deficit. However, he notes that the net income deficit – which is currently 3.4 per cent of GDP – will improve as superannuation funds increase their offshore holdings. Grace adds that factors such as a gradual reduction in the net income deficit and a structural improvement in the trade balance are likely to boost the Australian dollar over the longer-term.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, EXANTE DATA, RESERVE BANK OF AUSTRALIA