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 […]
RBA Still Desires Lower Australian Dollar 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 »
The Australian dollar fell half a US cent after the release of disappointing retail spending figures. Retail spending was unchanged in April, The Australian Bureau of Statistics said, which was worse than economists expectations of a 0.3 per cent rise. Australia’s trade balance has stayed in the red with a deficit of $3.89 billion in
AUD/USD Drops Below 0.7750 after Retail Sales and Trade Data Read More »
