From the AFR‘s Jono Shapiro:
Holding on to Australia’s AAA credit rating is the least of the nation’s worries as it faces “an unbalanced rebalancing” from mining to housing led growth, says bond giant PIMCO.
A “premature balancing of the budget” to save the AAA credit rating would only serve to slow growth and force further interest rates lower, Rob Mead, the Australian based managing director of the $US1.5 trillion bond fund told The Australian Financial Review.
