If you want sustained growth you need business investment to help drive it. The growth report combined with the election victory is good news investors for years have been crying out for reform and have been hoping the Japanese economy can sustain growth.
More Quotes from Stephen Koukoulas:
If RBNZ Governor Alan Bollard needed more information to stop hiking interest rates, the house-building consents data today fit the bill.Stephen Koukoulas
Any hopes that the Reserve Bank could hold off raising interest rates have been dashed, ... If the bank is going to contain inflation in 2006 and 2007, they have got to keep raising rates.
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There's an opportunity to buy U.S. dollars on the expectation that by the second half of this year U.S. strength will be sustained.
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Growth momentum means offshore investors want to put their money in Australia.
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The news should provide support for the Australian dollar with a hint that the trade balance will continue to narrow.
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A mid-year interest rate cut is looking less likely. We had forecast a rate cut in July. That's looking a lot shakier after today's number.
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