Australia Signals Readiness to Join China-Led Infrastructure Bank

Australia has signaled its readiness to join the new China-led Asian Infrastructure Investment Bank, despite strong objections from the U.S., with a final decision expected Monday. Treasurer Joe Hockey said that the bank was a positive development that could help address a worrying backlog of unfunded infrastructure in Australia’s immediate region, including in neighboring Indonesia. …

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RBA’s Stevens: Australia Having Period of Sub-Average Growth

Australia is likely to have a period of below-average economic growth as it undergoes a “major transition”, though a weaker currency and central bank support will cushion the impact, Reserve Bank of Australia Governor Glenn Stevens said. “The massive run-up in resources sector capital spending that was a natural response to earlier very high prices …

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