Australia’s trade deficit shrank in May as the weaker Australian dollar boosted demand for exports and capped imports. The deficit came in at A$2.75bn from a revised A$4.14bn in April. Economists had forecast a deficit of A$2.23bn. What’s notable about the April deficit is that the original estimate of A$3.89bn was a record in nominal […]
Australian Trade Balance in Deficit in May Read More »
Australia needs tougher measures to rein in booming property prices and give the central bank maximum flexibility on interest-rate settings, Pacific Investment Management Co. said. “Households are exhibiting irrational exuberance,” Pimco’s Aaditya Thakur and Laura Ryan said in a research report in Sydney. “They are placing little weight on broader fundamentals like unemployment that may
Tougher Home Lending Restrictions Urged to Help RBA 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
RBA Minutes: RBA to Keep Close Eye in Coming Months Read More »
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 »
