Taylor Swift-Mania: Australia Briefing

Good morning folks, it’s Sunil here in Sydney. Here’s what you need to know to start your day.

Today’s must-reads:
• Taylor Swift’s economic power
• Albanese’s falling approval ratings
• New Zealand central bank independence

Apart from everything else Taylor Swift is idolized for, she might even provide an economic prop amid recession risks. The pop icon added Australia to her Eras tour, a global money-spinner that some say may generate more than $1 billion (A$1.5 billion). Swifties are set to flock to the shows in Sydney and Melbourne from around the nation and even New Zealand. Still, the overall growth prognosis is gloomy: Australia’s economy is seen slowing to a crawl under elevated interest rates to fight inflation, which is expected to have eased to 6.1% in May from 6.8%.