Tag: reserve bank
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Antipodean Currencies Decline
Australia and New Zealand currencies weakened against their major currencies in the Asian session on Tuesday, as traders’ focus shifted towards the U.S. Federal Reserve’s monetary policy announcement on Wednesday despite the latest efforts initiated to address the turmoil in the global banking sector. Traders are focusing their attention on the Fed’s monetary policy announcement ... -
The risk of Australia entering recession has just risen
There are early signs Australia’s economy is buckling under the strain of inflation and cost-of-living pressures. The Bureau of Statistics reported yesterday that retail sales for December fell 3.9 per cent. One economist described it as a “plunge” in sales. What does the fall in sales mean? The data captures Boxing Day sales and the ... -
Has Australia’s housing boom hit the end of the road and could it take the economy down with it?
While Argentina may have dispatched Australia to go on and win football’s World Cup, there is one kicking contest where we are undisputed world leaders – that’s economic can-kicking. While Argentina’s economy cycles through inflation and debt crises with sickening regularity, Australia has managed to avoid acute economic malaise for a very long time. It ... -
Australians are hoarding more banknotes but how far is a cashless society in a digital world?
For many migrant communities across Australia, cash is still king. Tahera Nassrat, a tax agent based in Parramatta, says about half of her clients prefer to legally store cash rather than use a bank. “A lot of people don’t know how to use the online system or the banking system, and the fact is that ... -
A 30 per cent house price fall ‘unlikely’ with RBA tipped to cut interest rates in late 2023
It’s the question that most Australians want an answer to. Are house prices going to keep falling in 2023? For those in the property market — who saw their home values jump more than 20 per cent during the pandemic – further falls won’t be welcomed. Australian housing is valued at about $9.4 trillion. As ... -
Digital financial markets in danger of dilemmas
With digital currencies not reaching their potential, it’s up to policymakers to implement a better strategy for a stronger digital financial market. Paul Budde reports. AT THE CLOSE of 2022, it has become clear that the financial markets are taking a deep breath and several steps back in the wake of the many problems in ... -
Reserve Bank in danger of causing an economic recession
The Reserve Bank of Australia is lifting interest rates in an attempt to curb inflation but risks an economic recession by doing so, writes Matthew Smith. IN ONE OF the last scenes of the 1973 film Magnum Force, Clint Eastwood says famously of his departed corrupt police boss, “A man’s got to know his limitations”. ... -
Westpac’s warning to corporate Australia highlights extent of households’ financial stress
Are you tired? Actually, don’t answer that. Of course you are. In the space of two years Australians have grappled with drought, bushfires, floods and a pandemic. This year has also thrown up a war in Ukraine and an urgency to wean the nation off fossil fuel power generation and into renewables. We’re left with ... -
Reserve Bank rejects ‘scorched earth’ policy to tame inflation with faster interest rate rises
RBA deputy governor Michele Bullock has said the bank wants to hang on to as much of the employment gains made during the pandemic as it can, even as it tries to cool the economy to tame inflation. Key points: RBA deputy governor says a “scorched earth” policy of rapid interest rate hikes would crush ... -
Reserve Bank of Australia rejects ‘scorched earth’ policy to tame inflation with faster interest rate rises
Reserve Bank of Australia (RBA) deputy governor Michele Bullock has said the bank wants to hang on to as much of the employment gains made during the pandemic as it can, even as it tries to cool the economy to tame inflation. Key points: RBA deputy governor says a “scorched earth” policy of rapid interest ...
