Australia's central bank celebrates second anniversary of policy inactivity

Australia's central bank celebrates second anniversary of policy inactivity

Australia's central bank celebrates second anniversary of policy inactivity

Although Australian shares are excluded from this, the overall positive lead from equity markets overnight has fed through to Asian futures markets, with Japanese and Chinese indices pointing to a higher open today. "In the interim, once-off declines in some administered prices in the September quarter are expected to result in headline inflation in 2018 being a little lower than earlier expected, at 1.75 per cent". The kiwi dollar drifted lower overnight and "we doubt it will have enough momentum to break through those levels today (unless the RBA dramatically surprise), with markets waiting for direction from the RBNZ later this week".

GBP/AUD Forecast: Political Developments and UK Data in Focus While some Australian ecostats in the coming days could prove influential, developments regarding the Brexit process and U.S. trade protectionism are more likely to influence the Pound to Australian Dollar exchange rate.

The local dollar was little changed, trading at 73.95 United States cents at 2.57pm in Sydney. "But with a complex set of risks in each country, there's likely to be something for everyone", ANZ Bank New Zealand chief economist Sharon Zollner and senior macro strategist Philip Borkin said in a note. In other words, markets see only around a 50% probability the RBA will have raised its interest rate from 1.5% to 1.75% by then. "GDP growth is expected to average a bit above 3 percent in 2018 and 2019". The business environment in the country is positive with increased improvements in the business confidence levels. One continuing source of uncertainty is the outlook for household consumption.

With a population growth pace of 1.6 per cent, which is more than double the 0.7 per cent average for advanced economies, Australia has avoided a recession for a record 27 years. "The central forecast is for inflation to be higher in 2019 and 2020 than it is now".

The domestic case for a hike has also been weakened by a sharp slowdown in the once red-hot housing market in Sydney and Melbourne. This is largely due to reduced demand by investors as the dynamics of the housing market have changed. This is also a factor for future interest rates, as the Reserve Bank of Australia has struggled to raise rates in the face of declining house prices. "There is competition for borrowers of high credit quality".

Tiger Woods battles inflammation ‘everywhere’ this week at PGA Championship
And Bellerive is not a familiar course, as it last hosted a big event 10 years ago when the BMW Championship was played here. Phil Mickelson hasn't won one since 2013. "I only had to think about it for about a month", Woods said of the career Slam.

"Our relative youth and higher fertility rates mean that the dependency ratio is expected to remain lower than elsewhere over the next generation", he said.

"A further gradual decline in the unemployment rate is expected over the next couple of years to around 5 percent", said Lowe, extending the forecast out to the end of 2020.

"As the economy strengthens and income growth and inflation lift, it would be natural for interest rates to return towards more normal levels".

"Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time", the bank said in a statement.

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