Australian Treasurer Wayne Swan said Friday that the government's economic stimulus program is having a noticeable positive effect.
Speaking to reporters, Swan said sales data for the fourth quarter indicated a rise tied to the stimulus package, additing that the plan has also helped limit job losses and has spurred confidence in the economy.
"We aren't out of the woods yet," said Swan. There are big challenges down the road, but the government is prepared to act."
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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.