Economy’s Soft Landing: Australia Briefing
UGG sheepskin boots on display at a store in Sydney. Australia is scheduled to release its third-quarter GDP figures on Wednesday.
Photographer: Brent Lewin/BloombergGood morning. It’s Ed here in Sydney with the news you need to start your day.
Today’s must-reads:
• RBA’s soft landing efforts in spotlight
• US to arm subs with Tomahawks
• Why the methane crackdown is critical
As the Reserve Bank tries to steer Australia’s economy in for a soft landing, all eyes will be on GDP numbers today. Data is expected to show the A$2.3 trillion economy expanded 0.5% in the third quarter and 1.9% from a year earlier. The release comes the day after the RBA kept interest rates unchanged at its final meeting of the year.
The US Navy plans to begin arming submarines next year with ship-targeting versions of the Tomahawk missile, as it ramps up capabilities to challenge China’s numerically superior fleet. The development comes alongside Washington’s burgeoning Aukus security alliance with Australia and the UK.