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      Australia: Not a very innovative nation - NAB

      FXStreet(Delhi) – Research Team at NAB, note that according to the NAB’s Quarterly Business Survey, Australian business does not believe that we are a highly innovative nation and just 13% of all firms rate Australia as “highly innovative” (and only 6% of very large firms).

      Key Quotes

      “But, there is no shortage of firms (more than 1 in 4) across all sizes of business that identify themselves as “highly innovative”.”

      “Highly innovative firms can be found across all sectors of the economy - including some more “mature” industries such as Manufacturing and Retail (and in both very big and small firms).”

      “This raises the possibility that business may be underestimating the true level of innovation in Australia.”

      ‘Overall the fundamentals are good’ – Caixin’s Chief Economist Dr. He Fan

      Shortly after the release of the weak Chinese PMI survey, Dr He Fan, Chief Economist at Insight Group, played down risks emanating from the tepid data.
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      SARB to remain on hold – TDS

      Paul Fage, Senior Emerging Markets Strategist at TD Securities, expects SARB to keep its policy rate on hold at 6.0%, in line with the almost unanimous consensus.
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