As Australia’s unemployment rate in April jumped to 4.1% from a 3.9% in March, it diminished another chance for a hike in interest rate by the Reserve Bank of Australia (RBA). While the official number of unemployed people increased by 30,300 last month, the number of employed people increased by 38,500. “A 30,000 people increase … 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
Rupee hit an intra-day high of 83.47 and a low of 83.52 against the greenback. | Photo Credit: The Hindu The Rupee consolidated in a narrow range and settled higher by one paisa at 83.51 against the U.S. dollar on May 7, amid a negative trend in domestic equities and strong dollar demand. Forex traders … Read more
