Sydney is in the midst of a housing bubble but that won’t stop the Reserve Bank cutting rates again, a top economist says. Unjustified property prices and investor speculation has created a bubble in Sydney that’s at risk of bursting, AMP chief economist Shane Oliver says. Average prices in Sydney soared 13 per cent in …
Aussie consumer confidence is at its lowest in seven months but consumers are still feeling reasonably optimistic, thanks to loose monetary policy and buoyant house prices. That’s the message from the latest ANZ Roy Morgan weekly consumer confidence index, as measured on April 5, which reported a result of 109.7. The result was the lowest …
Australian Consumer Confidence at Lowest in Seven Months Read More »
With the Australian dollar trading around the Reserve Bank of Australia’s (RBA) preferred level of $0.75, will the central bank hold off on cutting rates at Tuesday’s meeting? According to Mitul Kotecha, head of FX strategy, Asia-Pacific at Barclays, the RBA is likely to pull the rate cut trigger sooner rather than later given the …
AUD/USD Anxiously Above 0.75 Before RBA Decision Read More »
Australia’s economy is struggling as it grapples with the imminent end to its commodities boom, but one industry is flourishing thanks to China: tourism. “As the mining boom enters the final cyclical phase, a rebalancing in favor of the non-mining sector is critical. The declining Australian dollar is facilitating this transition, and one sector that …
After Mining, Tourism may be Australia’s Next Best Thing Read More »
