The chance of a Reserve Bank interest rate cut in May has been thrown into doubt after Australia’s unemployment rate unexpectedly plummeted to 6.1 per cent. The fall was driven by a surprisingly strong gain in jobs, taking economists by surprise amid expectations unemployment would have remained steady at 6.3 per cent in March. The […]
Rate Cut Less Likely after Jobs Data Read More »
The Australian economy added more jobs than expected in March, pushing the unemployment rate lower and easing pressure on the central bank to reduce interest rates further. Australia’s economy added 37,700 jobs in March, above expectations for the addition of 15,000 jobs in a Reuters poll. That consisted of a 31,500 increase in full-time employment
Pressure off RBA as Australian Unemployment Drops to 6.1% Read More »
Australia’s property prices have looked bubbly for a while, but the surge is likely to hit a wall soon amid a combination of few births, high mortality and sparse migration, Goldman Sachs said. House prices have appreciated 23 percent over the past two-and-a-half years and are forecast to increase by 8 percent this year, driven
Goldman Sachs: Australian Property Bubble is Nearing an End Read More »
The International Monetary Fund (IMF) has highlighted the damaging effect the iron ore slump is having on Australia, as the Treasurer seeks a discussion with the Chinese finance minister on the matter. In its latest world outlook, the IMF forecasts Australia’s economy will grow by 2.8 per cent this year, which is slightly down on
IMF Downgrades Australian Economic Outlook Read More »
