ANZ-Roy Morgan Consumer Confidence virtually unchanged at 108.0

Original article by Roy Morgan
Market Research Update – Page: Online : 30-Jan-20

ANZ-Roy Morgan Australian Consumer Confidence fell 0.3% to 108.0 in the week ended 26 January. Current finances fell 0.5%, but this was balanced by a similar increase in future finances. Current economic conditions fell 1.8%, while future economic conditions gained 3.5%. The ‘Time to buy a major household item’ subindex was down 2.4%, after a gain of 4.7% previously. The four-week moving average of ‘inflation expectations’ was stable at 3.9%.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

2020 survey: no lift in wage growth, no lift in economic growth and no progress on unemployment in year of low expectations

Original article by Peter Martin
The Conversation – Page: Online : 29-Jan-20

A panel of 24 leading economists expects Australia’s economic growth to remain at or below two per cent in 2020. The average forecast is for growth of 1.9 per cent. The consensus of the economists is that the unemployment rate will remain above five per cent, while growth in wages will remain at around 2.2 per cent. The panel also expects the iron ore price to continue to fall, which will in turn see growth in Australians’ living standards slow to 2.4%. Meanwhile, there is general agreement among the economists that official interest rates will be cut just once in 2020 and the the Reserve Bank will not have to pursue quantitative easing.

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RESERVE BANK OF AUSTRALIA

Aussies trapped as US flees virus

Original article by Richard Ferguson, Amanda Hodge
The Australian – Page: 1 & 4 : 29-Jan-20

The official death toll from the coronavirus has risen to 106, while more than 4,500 people have now been diagnosed with the illness worldwide. The virus has spread to at least 15 countries, including the US, France and Japan, with five cases having been confirmed in Australia to date. Meanwhile, more than 400 Australian citizens remain in the Chinese city of Wuhan where the outbreak began, and Prime Minister Scott Morrison has indicated that the federal government will seek to evacuate them. The Chinese government has not yet agreed to allow Australia to send a chartered plane to Wuhan, although the US has been cleared to do so.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Why prescribed burning has never been so important to Australia

Original article by Neil Burrows, Rick Sneeuwjagt
The Age – Page: Online : 29-Jan-20

The issue of hazard reduction burning in national parks and forests has come under scrutiny in the wake of the bushfires crisis. The purpose of prescribed burning is to assist in safely suppressing bushfires rather than stopping them. Reducing the fuel load in some areas means that they can take a lower priority in the event of a fire, enabling firefighters to be deployed to the fire’s perimeter or to defend properties. Indirect suppression strategies such as back burning are easier if the fuel load has previously been reduced.

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Coronavirus: Australian government asks travellers to reconsider their need to travel to China

Original article by Danuta Kozaki, Kevin Nguyen
abc.net.au – Page: Online : 29-Jan-20

The federal government’s Smarttraveller website has updated its travel advice for China in response to the coronavirus outbreak. Australians have been advised to reconsider whether they need to travel to China at all, while Foreign Minister Marise Payne says people should not travel to Hubei province – ‘ground zero’ for the virus – under any circumstances. Meanwhile, some schools in New South Wales have urged parents to keep their children at home for the start of the school year if they have travelled to China in recent weeks.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

PM’s bid to boost disaster powers

Original article by Simon Benson, Geoff Chambers
The Australian – Page: 1 & 2 : 29-Jan-20

Prime Minister Scott Morrison will use a National Press Club speech on 29 January to argue the case for the federal government to be given increased powers to declare a national emergency. He will also call for the government to be given the power to deploy Australian Defence Force personnel to disaster areas without a request from a state premier. Morrison will stress the need for Australia to learn from the current bushfire season in order to be better prepared for future disasters.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PRESS CLUB (AUSTRALIA)

China trade links mean virus a $1bn risk

Original article by Adam Creighton
The Australian – Page: 4 : 29-Jan-20

Australian National University economist Warwick McKibbin estimated in 2003 that the SARS virus reduced the nation’s GDP growth by 0.07 per cent. He says the coronavirus could have a much bigger impact on the Australian economy, noting that the Chinese economy is now much larger and more integrated than in 2003, while Australia has become much more dependent on trade with China. Business and consumer confidence is also likely to be negatively affected by the new virus, having already taken a hit from the bushfires crisis.

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AUSTRALIAN NATIONAL UNIVERSITY

NZ blasted for climate hypocrisy

Original article by Greg Brown
The Australian – Page: 2 : 28-Jan-20

New Zealand has previously criticised Australia over its plans to use Kyoto carry-over credits to meet its 2030 Paris emission targets. However, New Zealand has indicated that it intends to use carry-over credits from meeting its 2012 Kyoto target in order to meet its 2020 Kyoto target, which has sparked claims of hypocrisy from Australian federal government MPs. Australia is tipped to meet its 2020 Kyoto target without having to resort to using Kyoto carry-over credits.

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MPs warn of side effects if McKenzie fired

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 28-Jan-20

Agriculture Minister Bridget McKenzie remains under scrutiny over the ‘sports rorts’ scandal in her previous role as sports minister. Senior bureaucrat Phil Gaetjens will release a report into the allocation of sports grants in coming days, amid demands for McKenzie to lose her portfolio. However, some National Party MPs are concerned that removing McKenzie could embroil Prime Minister Scott Morrison in the scandal, as his office is believed to have passed requests for funds from Liberal MPs on to McKenzie’s office.

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AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

China tourist ban to bite

Original article by Michael Smith
The Australian Financial Review – Page: 1 & 8 : 28-Jan-20

The deepening coronavirus crisis has prompted the Chinese government to ban travel operators from taking tour groups overseas for at least two months. The blanket ban will particularly impact on Australia’s tourism industry, given that about 1.4 million Chinese tourists visit the nation each year and inject some $12bn into the domestic economy. Chinese travel companies have indicated that they have requested refunds for trips that have already been booked with Australian airlines and hotels.

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