Australia's Treasurer Jim Chalmers unveiled a budget of "restraint" on Tuesday, promising relief from the rising cost of living without adding to inflation.
Delivering the Labor Government's first Federal Budget on Parliament, Chalmers said his responsible approach to revenue upgrades and spending restraint means gross debt as a share of GDP remains lower than at the Pre-election Economic and Fiscal Outlook in each year of the forward estimates.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.