The Reserve Bank of Australia still has scope to lower interest rates further, but is remaining tight lipped about the likelihood of future cuts. “We still have scope to lower interest rates if we need to, that doesn’t mean we’re going to but we have scope to do that,” RBA deputy governor Philip Lowe told …
Since the RBA cut the official cash rate back to a record low of 2% last Tuesday, the Australian dollar (AUD/USD) has enjoyed quite a surge higher. The AUD/USD has rallied strongly over the last couple of days from below 0.80 to a new three month high above 0.8150 in recent hours. This is of …
Australian Treasurer Joe Hockey is optimistic his second budget will restore confidence through tax cuts and a path back to surplus. Business groups aren’t so sure and say the central bank will need to keep an easing bias. Small businesses will gain a 1.5 percentage point tax cut and can instantly claim a deduction for …
Business Groups: Onus Back on RBA after Federal Budget Read More »
Consumer confidence rose last week after the Reserve Bank of Australia cut the official cash rate to a new historic low. Confidence jumped 1.7 per cent in the week ending May 10, after falling 2.8 the previous week, ANZ/Roy Morgan’s consumer confidence barometer found. ANZ chief economist Warren Hogan said the RBA’s decision to cut …
