No big-bang stimulus expected this Budget: Macquarie
June 11th, 2009
Rajeev Malik of Macquarie Capital Securities said it was still early for inflationary concerns in the US. “Reflation is at play now in the US due to easy liquidity conditions. We see the US gross domestic product (GDP) improving leading to a rise in the economic momentum.”
Commenting on his expectations from the forthcoming Budget, Malik said his budgetary expectations remain realistic. He does not anticipate any big-bang stimulus package. However, he does expect some rationalisation in fringe benefit tax (FBT). ”No cuts in personal and corporate tax are expected this year,”