Australia’s economy lost jobs for the month of April after two strong months of employment, underscoring the continued fragility of the labor market. The nation’s employment declined by 2,900, data showed on Thursday, missing Reuters’ forecast for a 5,000 rise. The figure was made up of a fall of 21,900 in full-time employment and a […]
Unemployment Rises to 6.2% as 2900 Jobs Lost Read More »
On Tuesday, as widely expected, the RBA cut the official cash rate by 0.25% down to a record low of 2%. In the day or so since, the Australian markets haven’t exactly been following the script as written by the RBA. Interest rate cut normally equals a rally in equities and fall in currency. The
Not Following the RBA’s Script Read More »
Sales of new homes in Australia jumped in March to their highest since early 2010 as falling mortgage rates and the lure of rising house values drove demand. The Housing Industry Association (HIA) said its survey of large volume builders showed sales of new homes rose 4.4 percent in March, from February when they increased
New Homes Sales Climb to 4 Year High Read More »
Australia cut interest rates to a fresh record low in response to a weak economic outlook and to discourage further strengthening in the currency. Governor Glenn Stevens and his board lowered the key rate to 2 percent from 2.25 percent, the Reserve Bank of Australia said in a statement Tuesday. The move was predicted by
RBA Cites Weak Growth Outlook in Cutting Cash Rate to 2% Read More »
