The ratings agency S&P isued a note saying the major fiscal stimulus in Australia flagged by the Australian federal government.could place the countries AAA rating under pressure

The S&P noted;

"If this fiscal stimulus involves substantial spending initiatives and changes the trajectory of the budget, then doing so could increase downward pressure on our rating and outlook for Australia"
"While spending initiatives are likely to support the economy, they're also likely to weaken Australia's fiscal flexibility to respond to future unforeseen economic shocks,"

Australia is one of just 11 sovereigns that S&P Global Ratings rates AAA. The Australian government has been under pressure from economists, Labor and the Reserve Bank to increase fiscal stimulus amid soft economic growth.

Source: S&P, AFR

On a Sunburnt Country.... From The TradersCommunity Research Desk