Delivering a tough message in Parliament on Friday, the Reserve Bank of Australia (RBA) governor, Michele Bullock, warned it was premature to expect a cut in interest rates by the end of the year. Bullock admitted inflation remained high, and added official cash rate was a “blunt instrument” to fix the economy. “Based on what … Read more
Treasurer Jim Chalmers has denied that Australia is on the brink of recession, following a huge global selling of stocks on Monday, erasing more than AU$100 billion from the share market. The markets gained 0.41%, on Tuesday, after nosediving to 3.7%, on Monday, the worst single-day drop, since the onset of Covid in May 2020. … Read more
Pixabay The Reserve Bank Of Australia (RBA) retained its 12-year-high interest rate at 4.35% for the fifth time, even as it did not rule out a future hike. At the end of the two-day policy meeting, the RBA decided to retain the interest rate, which was set last November, but added the need to be … Read more
Australia business conditions index dropped by 1 point to +6, just below its long-run average, following a dip in sales and profit indices, even as cost pressures and price growth measures seem to re-accelerate, a survey by National Australia Bank (NAB) revealed Tuesday. In addition, as the business confidence index fell 5 points to -3 … Read more
Pixabay The Reserve Bank of Australia (RBA) announced that the cash rates will be kept on hold at 4.35%, avoiding a tightening bias as demanded by economists to curb inflation. Wrapping up its two-day May policy meeting, RBA kept rates at a 12-year high, avoiding a hike as economists suggested after first quarter inflation, Reuters … Read more
