The Australian Prime Minister (PM) Scott Morrison confirmed Tuesday that the jobs support program implemented amidst the coronavirus crisis will expire end-March.
Australia preliminary trade figures for January, exports drop 9% MoM. xports of goods in January 2021 declined $3,047m (-9%) to $32,126m. Imports of goods in January 2021 declined $2,626m (-10%) to $23,372m.
Australia remains one of only nine nations to hold a AAA credit rating, the country’s Treasurer Josh Frydenberg said after the US-based Fitch Ratings affirmed the OZ economy’s top-tier AAA rating.
At its first monetary policy meeting of 2021 on February 2, the Reserve Bank of Australia (RBA) board members decided to maintain the official cash rate (OCR) at a record low of 0.10%, matching the market’s consensus.
At its first monetary policy meeting of 2021 on February 2, the Reserve Bank of Australia (RBA) board members decided to maintain the official cash rate (OCR) at a record low of 0.10%, matching the market’s consensus.
Following are the key headlines from the December RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe. "Will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.To purchase an additional $100 billion of bonds."
The Reserve Bank of Australia has published the minutes of the December policy meeting. Minutes showed that its Board feared a protracted period of unemployment lay ahead and rectifying that would be a "national priority."
Australian banks are better prepared to deal with an economic downturn than they were prior to the 2008/09 global financial crisis, with much higher holdings of liquid assets, Jonathan Kearns, Head of Financial Stability at the Reserve Bank of Australia (RBA) said on Tuesday in a speech to ...
The Reserve Bank of Australia (RBA) is Australia's central bank and derives its functions and powers from the Reserve Bank Act 1959. Its duty is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people. It does this by setting the cash rate to meet an agreed medium-term inflation target, working to maintain a strong financial system and efficient payments system, and issuing the nation's banknotes.
The RBA provides certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions. Additionally, it manages Australia's gold and foreign exchange reserves.
Philip Lowe is an Australian economist, born in Wagga Wagga, New South Wales. He is the current Governor of the Reserve Bank of Australia, having succeeded Glenn Stevens on 18 September 2016. He was previously deputy governor under Stevens from 2012.
Lowe on his profile and Wikipedia.
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.
