Australia Budget Weekly: Commodity Prices Help Narrow Deficit Australia will release its budget this week, with the deficit expected to be smaller than anticipated due to unexpected fiscal revenue from rising commodity prices. Although the government is attempting to drive reforms without exacerbating inflation, energy shocks triggered by conflicts in the Middle East continue to weigh on prospects. The Reserve Bank of Australia has raised interest rates three times this year and warned that higher unemployment and sluggish growth are likely to persist. #AustraliaEconomy #GlobalMacro #FiscalBudget #Inflation