The ratings agency does have some cautionary notes, as they always do.

Fitch affirms Australia at AAA; outlook stable

  • Says momentum in Australian economy has decelerated in near term, but still compares well with AAA peers
  • Slowdown of Australian economy is due in part to spill overs from weakening housing market on dwelling investment and household consumption
  • It expects ongoing housing market correction in Australia to remain orderly
  • Forecasts Australia's debt-to-GDP to begin a downward trajectory in light of improvement in fiscal performance
  • Australia's banking system is well positioned to manage a housing market shock
  • Australia's monetary policy is likely to remain accommodative to support economic growth and employment

If you agree with some of these points: 'NSS'

If you disagree with some: 'Aren't these the guys that failed to see the GFC?'

;-)