Fitch Affirms Australia At 'AAA'; Outlook Stable

Dec 2 (Reuters) -

* FITCH AFFIRMS AUSTRALIA AT 'AAA'; OUTLOOK STABLE

* FITCH-WE FORECAST GDP GROWTH FOR AUSTRALIA SLOWING TO 1.5% IN 2023 FROM 3.9% IN 2022

* FITCH SAYS EXPECT AUSTRALIA'S C.BANK TO RAISE CASH RATE BY 25BP IN ITS NEXT TWO MEETINGS TO A TERMINAL LEVEL OF 3.35% FROM 0.1% IN MAY 2022

* FITCH - EXPECT AUSTRALIA'S INFLATION TO PEAK AT 7.8% IN 4Q22, DECLINING TO 3.5% BY END-2023

* FITCH- WE FORECAST DEFICIT TO DECLINE TO 2.5% OF GDP IN FY23, DRIVEN BY NARROWING AT FEDERAL AND STATE LEVELS FOR AUSTRALIA

* FITCH ON AUSTRALIA- FORECAST RATE CUTS IN 2024 TO 2.75%

* FITCH SAYS AUSTRALIA'S RATING UNDERPINNED BY HIGH INCOME PER CAPITA, AS WELL AS STRONG INSTITUTIONS AND AN EFFECTIVE POLICY FRAMEWORK Source text for Eikon: Further company coverage: [ ]