- Vote counting in Bradfield paused until Monday, leaving candidates in limbo.
- Tim Wilson’s lead over Zoe Daniel in Goldstein narrows to just 206 votes.
- Australian share market hits a three-month high as ANZ predicts two rate cuts in 2025.
Australia’s election tension continues as the Australian Electoral Commission (AEC) pauses vote counting in the closely contested seat of Bradfield until Monday.
Meanwhile, the Australian stock market has achieved its highest close in three months, driven by optimism around a potential Reserve Bank interest rate cut and easing US-China trade tensions.
Australia Awaits Key Vote Counts as Markets Maintain Momentum
The suspense surrounding the vote count in Bradfield has intensified with the AEC confirming that counting will resume on Monday. Candidates and voters alike face a weekend of uncertainty, as the margin between leading contenders could significantly shift with the inclusion of overseas and postal votes.
In Goldstein, the competition remains razor-thin, with Tim Wilson’s lead over Zoe Daniel narrowing to just 206 votes. AEC Commissioner Jeff Pope has indicated that more overseas ballots, including those from Nairobi, may arrive before the Friday midnight deadline. This influx of votes could prove pivotal in the final outcome.
On the economic front, Australian shares ended the week on a high, with the S&P/ASX200 gaining 0.46% and the All Ordinaries up 0.49%. Market optimism was buoyed by positive developments in US-China trade relations and the likelihood of a Reserve Bank interest rate cut.
Despite a temporary surge, the Australian dollar has dipped slightly against the US dollar, closing at 64.32 US cents. ANZ’s updated forecast of just two interest rate cuts for 2025 suggests a more cautious approach to monetary policy amid global economic uncertainties.
As the vote counts in Bradfield and Goldstein resume next week, both political and financial sectors in Australia will be closely watching the developments that could reshape the electoral landscape and impact economic forecasts.
“We will have staff potentially out at Sydney airport at late hours tonight, before midnight, trying to pick up some of these votes,” – Jeff Pope, AEC Commissioner.
