The Reserve Bank of Australia finally appears happy with the level of the Australian dollar, as governor Glenn Stevens’s main concern has now switched to long-term growth trends and the need for fiscal reform. Australia’s secular slowdown, and the reasons for it, took centre stage at the governor’s annual address to the Anika foundation in …
RBA Might Be Finally Leaving the Australian Dollar Alone Read More »
The Australian dollar took another hefty hit overnight, falling to a fresh six-year low as Fed chair Janet Yellen signalled the US central bank could lift interest rates as early as September. Adding to pressure for commodity currencies, Canada cut its benchmark interest rate for the second time this year to shield the country’s economy …
AUD/USD Drops to Six Year Low Near 0.7350 after Yellen Comments Read More »
Australia’s unemployment rate has risen slightly in June, albeit it from a downwardly revised May figure, as the number of new jobs in the economy increased marginally. The unemployment figure rose to 6 per cent in June, after an increase in the number of unemployed people outstripped a slight rise in added job numbers over …
AUD/USD up to 0.7460 as Unemployment Rate Rises to 6% Read More »
The Reserve Bank will keep a close watch on the economy in the coming months to assess whether more interest rate cuts are needed, as economic growth and business investment remains sluggish. The RBA cut the cash rate to a historic low of two per cent in May, before leaving rates on hold at its …
