Australia’s central bank reiterated the need for deeper currency declines to balance economic growth that’s predicted to remain below average until the latter part of 2016. “A lower exchange rate would have an immediate beneficial effect on some sectors such as tourism,” the Reserve Bank said in minutes of its June policy meeting in Sydney …
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 »
Australia left its key interest rate unchanged at a record low and was coy about whether further cuts would be needed to boost growth, sending the currency higher. Central bank Governor Glenn Stevens and his board left the cash rate at 2 percent in Sydney Tuesday, as predicted by traders and economists. “Monetary policy needs …
Australia’s central bank kept interest rates steady at a record low 2.0 percent, in line with analysts’ expectations, but the Australian dollar still pushed higher. All 24 economists polled by Reuters expect the RBA to be on hold, but eight respondents say interest rates could be reduced to 1.75 percent or lower by December, if …
