Australia’s central bank reiterated the need for deeper currency declines to balance economic growth that’s predicted to remain below average until the latter part of 2016. “A lower exchange rate would have an immediate beneficial effect on some sectors such as tourism,” the Reserve Bank said in minutes of its June policy meeting in Sydney …
Australian retail sales stagnated and the nation’s trade deficit blew out to a record in April, in a challenge to a central bank trying to spur an economic recovery. The currency slumped half a U.S. cent as sales were little changed from a month earlier, when they rose a downwardly revised 0.2 percent, and were …
Australian Trade Deficit at Record Levels as Retail Sales Weaken Read More »
Australia’s central bank kept interest rates steady at a record low 2.0 percent, in line with analysts’ expectations, but the Australian dollar still pushed higher. All 24 economists polled by Reuters expect the RBA to be on hold, but eight respondents say interest rates could be reduced to 1.75 percent or lower by December, if …
Australian business investment fell by 4.4 per cent in the March quarter, worst than economists’ forecasts of a 2.4 per cent fall. The closely-watched figures, released by the Australian Bureau of Statistics, cover investment in capital goods which includes such things as buildings and equipment. Businesses collectively expect to invest $149.946 billion on capital goods …
AUD/USD Drops Below 0.77 as Australian Capex Falls 4.4% Read More »
